Comment Re:Just got off phone with VISA... (Score 1) 278
The real issue with credit cards and electronic transactions becomes time. Transactions occur within hours or at most a few days when you make a purchase electronically. In many instances you don't realize you have a problem until several days or weeks later. By that time, the money has been withdrawn from your account and transferred to the merchant. Too late to stop payment.
To get the ball rolling to get your money back can take several days and maybe weeks. According to PayPal, when you submit a claim to them, they take something like 45 days to investigate. During that time, they tell you that you should not get your bank involved or you risk having your account with PayPal closed. While PayPal is investigating, precious time is wasting away and with it, your consumer rights to get your money back can be decreasing. What incentive does PayPal have to aggressively pursue refund of your money from a merchant? None that I can see.
If your using a third party to insulate yourself from merchants, don't assume you have the same ability to get your money back as in the case of using a credit card purchase made directly to the merchant. Be aware and do your homework regarding what rights you have with the various methods of payment.
To get the ball rolling to get your money back can take several days and maybe weeks. According to PayPal, when you submit a claim to them, they take something like 45 days to investigate. During that time, they tell you that you should not get your bank involved or you risk having your account with PayPal closed. While PayPal is investigating, precious time is wasting away and with it, your consumer rights to get your money back can be decreasing. What incentive does PayPal have to aggressively pursue refund of your money from a merchant? None that I can see.
If your using a third party to insulate yourself from merchants, don't assume you have the same ability to get your money back as in the case of using a credit card purchase made directly to the merchant. Be aware and do your homework regarding what rights you have with the various methods of payment.
