A lot of traders would like to return the funds invested in SuperBinary.com. Among the many reasons that prompted them to take such a step were the unexpected obstacles that arose when withdrawing funds from the deposit, and the aggressive behavior of the dealing center employees, and the incorrectness of training in the proposed courses, due to which there was a quick drain of investments.
How Visa Can Help
If the transaction was made in this international payment system, then you can use the protective mechanisms embedded in it. The new rules of the payment system adopted in April 2018, which are not yet available in the Russian version, regulate in detail in which cases it is possible to start the refund procedure. For each situation, certain codes have been adopted, which must be referred to if you want to use the chargeback (instructions for chargeback on the eto-ravod.ru).
What is required from the owner of a bank plastic card is to comply with two simple conditions related to the transaction:
- The amount transferred to the platform must be at least $25.
- No more than 540 days must pass from the time the money is transferred.
After making sure that these requirements are suitable for your situation, you can think about sending an application to the bank that issued the plastic card (issuer), and from which the transfers took place. In turn, he, upon receipt of a request with justification from his client, must begin the return procedure.
In order for the client’s request to the bank to be recognized as fair, it is required to prove that his efforts to return the funds were unsuccessful. As evidence, the following are used:
- screenshots;
- audio and video files;
- links to the documentation located on the SuperBinary.com website, where it should be indicated which specific clauses of the client agreement were violated by the broker (black list of brokers).
Refunds by Visa
The key figure here is the cardholder, who is going to challenge the transaction and return the payment back. No additional action is required from him – then he is assigned the role of an ordinary observer. Step-by-step, this process looks like this:
- the client submits a request to the issuing bank in order to recognize the transaction as controversial;
- the issuer requests documentary evidence of these facts, followed by an appeal to the acquirer who made the transfer with a proposal to perform the reverse transfer operation;
- Further, the acquirer satisfies the request either independently or with the involvement of the client to whom the transfer was addressed;
- the acquirer’s client, such as the brokerage company SuperBinary.com, may disagree with the return of previously received funds;
- the acquirer double-checks the information provided by the client who does not want to return the funds, and a repeated appeal is formed;
- if the client of the acquiring bank does not agree to return the funds, any of the financial institutions has the right to use the appeal to the pre-arbitration settlement;
- In case of disagreement with the pre-arbitration settlement (or even skipping this instance), the issuing bank applies to the payment system with a request for arbitration settlement of the dispute.
The described design looks quite complicated, but it provides for the protection of the interests of all participants in the payment system. As a rule, the full passage of the procedure takes up to three to four months, during which the person who challenged the transaction can only wait for the result. Yes, if the arbitration commission of the Visa payment system decides to leave the transfer in force, the initiator of the process will have to fork out for the payment of a $ 500 fine.
Is it dangerous for a broker to turn traders to a chargeback?
Isolated cases when buyers of some goods / services seek a refund using the international payment system Visa will not cause much damage to a well-organized business. Such problems are also faced by large, completely conscientious companies engaged in Internet deliveries. The same brokerage company will SuperBinary.com have to lose only:
- the amount transferred to the trader’s deposit;
- the fee paid for the transaction process;
- interest earned on currency conversions (if any);
- 20-25 dollars / euros, which will be used to pay the fine.
The losses are, by and large, nonsense, but with an increase in the number of approved chargebacks:
- the amount of the penalty for each transaction will be raised to 100 dollars / euros;
- If the aggregate approved chargebacks exceed the limit of 1-2% of the amount of all sales, the trading account may be closed, which will make it impossible to accept payments from bank cards.
Such a mechanism can be considered as a rather powerful obstacle that arises for unscrupulous entrepreneurs. Visa is interested in ensuring that its services are not used to the detriment of customers, otherwise they can be lost. Therefore, the international payment system, actively involved in the process of challenging the transaction, will stubbornly achieve results, using all its influence.
Another thing is that it is difficult to effectively resist fly-by-night brokerage organizations with the help of a chargeback. At the first sign of mass discontent shown by customers, they dissolve on the Internet, taking with them everything that they managed to save.
