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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4473
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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Dear Sir/ Madam I am two years in to a claim through my bank

Customer Question

Dear Sir/ Madam
I am two years in to a claim through my bank using the Charge Back system, the company I was dealing with didn't supply the service I'd paid for and subsequently became bankrupt. My bank rejected the claim due to the 120 days from discovery, I filed a complaint through the Finacial Ombudsman's Service who eventually sided with the bank. However, I spoke to my banks claims department again and they advised me to reclaim using sect 75 (although my payment method falls outside of this system, deposit paid by Debit Card with the final amount paid with a Cheque). My bank has now agreed that I probably would have had grounds for a claim and made an offer 'as a gesture of goodwill' to refund the amount I paid by Debit Card in full, providing I sign to accept this as a full and final offer. Is there anything I can do to use this as acknowledgement of fault and peruse the bank to refund the amount paid by cheque, or is there indeed another legal avenue?

I look forward to your reply, regards

Eric Church
Submitted: 2 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

So far as section 75 is concerned, "Section 75" laws means your plastic must protect anything you buy over £100 for free, so if there's a problem or the company goes bust you can still get your money back.

You have a excellent piece of reference at:

http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases


In my opinion, you should accept what the bank is offering you as a "good will gesture". The reason is this protection only applies to credit and store cards, NOT debit cards, cash spending, using cheques or charge cards. Therefore you have to use a credit card to be protected.

So, in a way, you will not able to make a case out of this. In my opinion, you should accept bank's goodwill offer.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,
Customer: replied 2 years ago.
Dear Rakhi.
Thank you for your prompt reply.
I already knew the information you provided in your reply, including the Internet Link, I'd read it before along with amendments on the Government official Site. I'd also come to the conclusion my best option is to accept the banks offer having fully appraised myself before asking my question of the Charge Back system (applies to my case) and the Credit Consumer Act 1974, Sect 75 (doesn't apply). It was my banks suggest that I should reclaim using Sect 75, it was suggested that they would revisit my challenge. My main question to you was, is there anything else I can do, any other avenues I can pursue?
Regards

Eric
Expert:  Rakhi Vasavada replied 2 years ago.
Dear Eric,

I am afraid, I do not see any other avenue. If you wage a separate legal battle after refusing the bank's offer, I see this going too long and least likely to fetch more favorable result. Also, fighting a legal battle will not be free and would involve some costs for you as well. Going forward, I see a penny wise pound foolish situation.

Given this consideration, I suggested to accept the bank's offer though principally you may or may not agree to this.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards

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