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Its called Direct Debit guarantee, UK had it for decades: "Immediate refunds. You can get a full and immediate refund from your bank (also known as an “indemni
by ClumsyPilot 4y ago
Its called Direct Debit guarantee, UK had it for decades:
"Immediate refunds. You can get a full and immediate refund from your bank (also known as an “indemnity claim”) for any payment taken in error."
https://gocardless.com/guides/posts/dd-guarantee-in-plain-english/#:~:text=The%20Direct%20Debit%20Guarantee%20in%20Plain%20English%201,payment%20taken%20in%20error.%203%20Instant%20cancellations.%20 https://gocardless.com/guides/posts/dd-guarantee-in-plain-en...
- PaulDavisThe1st 4y agoWho defines whether a payment is or is not in error? Has the USA really made me that cynical?
- martijnvds 4y agoYou (the account holder) do. Direct debits are instantly reversible for a month (maybe 2?). You'll have to explain to the company that deducted the money why you reversed the charge though, and if it was legit after all you still need to pay them.
- Symbiote 4y agoThere's no time limit for reversing direct debit transactions. https://www.cleardebit.com/indemnity-claims/ https://www.cleardebit.com/indemnity-claims/
- lxgr 4y agoThere is. It‘s 8 weeks (for any reason including "I‘d like my money back and rather do something else with it") or 13 months (for unauthorized charges). https://www.europeanpaymentscouncil.eu/what-we-do/sepa-direct-debit https://www.europeanpaymentscouncil.eu/what-we-do/sepa-direc...