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Drake et al,
Drake presented an issue I hopefully can be of some assistance or
education. I hate to see anyone get taken advantage of when purchasing
IMPERIAl parts... or taken advantage of at any time!
It is wonderful that Paypal or ebay provide a 30 day period to dispute
transactions to help with these issues. Everyone should also know that
there are banking regulations that provide consumers with additional
protection. This compliance law is known as Regulation E (for electronic
transfers.)
IF you have made a transaction using an electronic transfer (credit card or
debit card for example) you as the consumer of 60 days from the time the
transaction is shown on your statement to dispute the transaction with your
credit card bank. You must provide evidence that you have tried to resolve
the dispute with the vendor or in Drake's case, the seller. IF you have
done your part and cannot resolve the issue, the bank is required to research
the case and come to a conclusion. There are rules for providing you, the
consumer, provisional credit during the time the issue is being
researched. Should the bank find in your favor, the provisional credit
will be permanent and the vendor will be charged for the reversal of the
transaction. The process can be a little daunting (I have been through it
myself) but when it works it is satisfying to get your money back from a dead
beat! My job is to audit compliance with banking regulations so I hope
this little webinar has been helpful.
Yeah! I got to contribute something! :)
Happy motoring!
Dale
68 Crown Coupe
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