Debit card payments and purchases are not covered by section 75 of the Consumer Credit Act.
But you might be able to make a claim for a refund under a voluntary scheme called ‘chargeback’.
This might offer you cover on purchases of any value made on debit, credit or prepaid cards.
Are debit card purchases protected?
Debit card fraud protection, on the other hand, is covered by the Electronic Funds Transfer Act (EFTA) — and protection varies. Here’s what you could owe, based on when you report a debit card loss: Before any unauthorized purchases are made: $0.
Do debit cards have the same protection as credit cards?
Credit cards give you access to a line of debt issued by a bank. Debit cards deduct money directly from your bank account. Credit cards offer better consumer protection through warranties and fraud protection but are costlier. Debit cards offer less protection, but they have lower fees.
Can I dispute a debit card charge that I willingly paid for?
Consumers can dispute fraudulent charges on their bill by calling up their issuer. The credit card company might be willing to immediately remove the transaction from your bill. You also have the right to dispute a credit card charge for a purchase you willingly made.
What can I do about unauthorized charges on my debit card?
Follow these six steps if you find an unauthorized charge on your account.
- Contact Your Bank.
- Contact the Vendor.
- Dispute the Charge With Your Bank or Credit Card Company.
- File a Fraud or Police Report.
- Switch Your Bank Drafts to Your New Account or Card.
- Monitor Your Account and Credit Closely.