Customers affected by a recent insolvency in Austria now have a chance to recover their deposits. This can be done through a "chargeback" process, which involves submitting a transaction complaint to their bank. Chargebacks are available for most major card types, including Visa and MasterCard, and are intended to protect consumers against unauthorised transactions or when a service or product is not delivered.
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Kika/Leiner, the Austrian furniture chain that recently declared bankruptcy, is the context for these chargeback claims. The Austrian Chamber of Labour (AK) advises customers to initiate chargeback claims within 120 days from the order or scheduled delivery date. To do this, customers should use their bank's designated forms for transaction disputes, typically found on the bank's website or at branch locations. This process has proven effective in similar cases, such as with the FTI travel agency, where clients managed to reclaim payments for undelivered services.
It is important to understand that while chargebacks can be helpful, they are not a legal entitlement but a gesture of goodwill from credit card companies. Christian Prantner, an AK financial expert, explained that the chargeback system is an arrangement between card issuers and merchant banks. Although banks will assess each case, reimbursement is not guaranteed and depends on whether the complaint is deemed valid.
The AK recommends that customers affected by the insolvency try this approach as it may result in a refund.
Source: www.vienna.at