Monica used to pay her credit card dues on time without bothering to cross check her credit card statement. One month she happened to check her statement by chance and was stumped at an expensive TDS on gift entry charged for Rs 1500. Since Monica had received no gift she contacted her bank. The bank told Monica that it was offering a gift for users who spends more than Rs 15,000 in a single transaction. Surely Monica had spent the minimum amount for a single transaction to be eligible for the gift but she was never communicated about the same. Also she was not interested in any gifts. The bank told her that the user would need to pay the TDS at the rate of 10% of the gift value before collecting the same. Thankfully Monica checked the statement before paying the TDS for the gift or else she would have end up paying the charges without being aware of the unwanted charges.
Monica’s is not an isolated case. There are several similar and different instances where, offers and erroneous online and offline payments are charged against credit cards. Added to this, more and more people are now buying goods and services from various online merchants than never before. While there are many intrinsic advantages of shopping online, reversal of payment against cancelled orders especially while paying using credit cards can leave the consumers dejected. Let us take a look at the best way to make sure once receives reversal of payments for any cancelled online transactions swiftly.
Online Transactions and Refunds:
Before seeking refunds for cancelled orders, it is important to understand that each merchant website has its own terms and conditions for refunds on all cancelled orders. Some websites allow complete refunds of funds for all cancelled orders within a stipulated time period with no questions asked. Other merchant sites do not return the funds as cash but give the users the option to use the funds to buy any other product of the same value from the website. Before selecting any online merchant website, it is essential for the consumer to understand their terms and conditions when it comes to refunds and order cancellations.
Cancellation of Purchase through Credit Cards:
Users can cancel any credit card transaction for any purchase online or in brick and mortar stores. There are two options in case a user wants to cancel his or her transaction. The first one is direct cancellation of order in which case the purchase made is considered to be null and void and any payment is reversed to the bank account in 30 minutes. The second method is the demand for a charge back.
Charge back is a protection offered by credit card companies allowing users to cancel their purchase if they are unhappy with the product or services. In case of a charge back request the banks will reverse the amount billed on the credit card and not pay the same to the merchant. Charge back safeguards consumers interest for any faulty purchase, claims must be filed within 180 days of the purchase date.
Double Swiping of Credit Cards:
Manohar had gone to a local store and purchased some groceries using his credit card. The sales executive at the cash counter swiped Manohar’s card but the sale charge slip did not emerge from the swipe machine. Manohar on the other hand got an SMS text alert on his phone. Unsure of whether the transaction had gone through or not, the sales executive swiped Manohar’s credit card again even as he showed him the SMS alert. After swiping the card again, another SMS text was received by Manohar and a charge slip emerged from the swipe machine. Clearly a case of malfunctioning of swipe machine for the credit card, Manohar was charged twice without any fault.
Double swiping of credit cards is quite common and a lot of users do not even realize they have been charged twice. In case your card has been swiped twice at a store, check with your bank on the transaction details of both purchases. The banks then forward the details to the merchant for reversal acceptance of one transaction. Some genuine merchants also offer cash reversal to their clients on the spot in case of double swiping of cards in order to help them save their time and effort for reversal.
Possible Options in Case of Non Reversal of Funds:
In case the online merchants or card companies fail to revert on the promised reversal of funds after reminders, consumers have the option of approaching the consumer court. All online transaction in India safeguards the sentiment of the Indian consumer under the consumer protection act. In case any merchant does not refund the money, the consumer can approach a district forum court. In case of online transactions, you can get in touch with the online merchant directly using their contact us page as well as their social media page and file a formal complaint regarding the nonpayment. Most genuine online merchants try and resolve all consumer complaints at the earliest as any bad publicity can be detrimental for their business in the long run.
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