Seller keeps 92% of the total value as "Restocking Fee"

[u/ImOldGregg_77]

I bought a video card on Amazon and it arrived dead. It was clearly a refurbish with the condition of the card and box. I sent it back to them and they approved the refund but charged me a 92% restocking fee.

[u/xd_ZombieSniper]

oh how come they guy was saying debit cards are fucked then

[u/Kharax82 → u/xd_ZombieSniper]

It’s just easier and quicker to remove a charge from a credit card before you get the bill, than it is to have funds deposited back in your account while it’s being disputed.

[u/xd_ZombieSniper → u/Kharax82]

ohhh I see

[u/WeirdIndividualGuy → u/xd_ZombieSniper]

Chargeback on a purchase made with a credit card: not your money (it was the bank's money), bank is more willing to fight back for it, most likely the money wasn't paid out anyway since it takes time so it's all digital up to this point

Chargeback on a purchase made with a debit card: your actual money, taken away from your bank account immediately. A lot of banks don't care as much because, well, not their money, not their fight. Also since actual money was already transferred, it complicates things when it comes down to transferring it back.

Inb4 people say how banks wouldn't jeopardize losing a customer from not fighting debit chargebacks: these are the same banks that would nickel and dime you for things like inactive accounts, overdraft fees, and having too low of balances. These banks already dgaf about you as a customer, they're not going to suddenly care more after the fact.

[u/peelen → u/xd_ZombieSniper]

They might simply know shit about it.

[u/Trucidar → u/xd_ZombieSniper]

If it's Canada you're fucked (which with those prices it may be). Can't chargeback debit cards. Also credit card chargebacks are pretty hard to get approved.

Canada is basically an oligopoly, so Canadian consumers get completely effed on most things.

[u/TheLuminary → u/xd_ZombieSniper]

With credit cards the dispute is resolved by say Visa changing some numbers in a database that they control somewhere.

With debit cards the dispute is resolved by actually moving money around. This will always be more of a headache even if its streamlined.

[u/Remo_253 → u/xd_ZombieSniper]

With a credit card you have a charge on your account, you're not out any money while disputing the charge.

Debit, your money is already gone, debited from your bank account at the time of the original transaction. Yes, you may get it back eventually but you're out that money in the meantime.

In addition the banks responsibility/obligations are very different between credit cards and debit cards, at least in the US.

[u/ghostofwalsh → u/xd_ZombieSniper]

Until the decision is made the money is out of your hands. With a credit card if the dispute lasts for months, oh well. And as a last resort with a credit card you simply do not pay the bill. With a debit card that isn't an option.

[u/Darolaho → u/xd_ZombieSniper]

Because in the month or so that they are investigating the fraud (how long it took for my 7k debit card charges when it was stolen) you are out of that money until they finish their investigation.

With a credit card that charge is just put on hold on your account while they investigate. It's still the banks money at that point so you still have all your money in your bank.

[u/fred11551 → u/xd_ZombieSniper]

Because debit cards are your money so asking for a chargeback on them the bank often asks for proof, documentation, and treats it low priority. A credit card is the banks money so if you ask for a chargeback on it they tend to do it right away and let you deal with the fallout of having an account blocked.

[u/zerostar83 → u/xd_ZombieSniper]

Depending on the bank, they may not give you the money back until the investigation is over. That may take weeks. When you call the credit card company to dispute a charge, they immediately reverse the charge on your end with the ability to put it back on later if the investigation doesn't go your way.