Disclaimer: I work for one of those companies, but not on that product.

Now I personally don't let third parties store my cards, but it's quite common in this day and age of saas everything

Which is US only. Is there anything like it for the UK?

https://www.fca.org.uk/consumers/unauthorised-payments-accou...

"In most cases the bank must refund the payment without undue delay and by the end of the business day following the day on which it became aware of the problem, unless it has reasonable grounds for suspecting that you have acted fraudulently."

"When your bank refunds an unauthorised payment it must also refund any charges and interest you have paid because of the unauthorised transaction."

U.S. banks, as well. Twice Citi has refunded me within minutes. Chase within hours. It seems the policy is "give the customer the money, and we'll sort it out later."

The point is to not have to need to dispute a charge.

Some providers are interestingly stubborn when it comes to charge backs and can hold on to the (fraudulent) vendors side even if you're clearly right.

Monzo in the UK is a prime example for that. An internet vendor charged me more than he should and refused to void the transaction (basically text-book fraud) and I filled for a charge back with monzo. I was extremely confident that it wouldn't take much however monzo customer service resisted to help.

The monetary value wasn't much however in the end I perfectly understood that this "protection" does not exist on the credit card issuer/bank side of things.

Be careful.

Generally guidance is that you are entitled to a refund from the bank only if you did not authorise a particular transaction.

It's just that credit cards must offer chargebacks by law.

The Moral of the Story: Money institutes may not cover you like you think they will.

I've learned my lesson.

Again, be -very- careful.

Not if you didn't read your debit card agreement, no. Nothing you've stated wouldn't be clearly spelled out in the agreements I've seen for debit cards. I mean, I can see how this happens: looks like a credit card, must have the same protections as what people online say about credit cards, right? Nope.

If I remember correctly, debit card protections don't exist below £100, so they literally can't do it for a few quid, but they can for larger sums of money.

This isn't an example of Monzo being terrible, this is an example of debit cards being terrible.

Banks have a vested interest to work with you for purchases made on credit because it's their money. Debit purchases have no such leverage and thus have lower protections.

If it costs more than £100, use a credit card in the UK as the CC company is jointly liable for any issues, even faulty goods.

You would get your debit card within a week max. You can transfer limited amount from your original bank account to Monzo account and even on top of that you can set some restrictions on how much amount can be withdrawn and there are some special features like POTS which are very useful.

I am not saying this is the best, but even if someone steals your monzo card details, you can reqeust for a new one and your original bank card details are still safe.

Note: All this works, only if you don't use a credit card.

Edit: although I guess they'd just do it in the middle of the night so doesn't really help.

The very crude answer is to get a prepaid card and load it with enough to cover each purchase, then toss it as soon as it gets misused. Which works, but doesn't sound worth the hassle unless you seriously expect a bad outcome.

    https://www.thechangeaccount.com/

If a company is prepared to stiff me like that, the convenience of having it fixed right away is not worth the concession of letting them have my money when all is said and done. Is that just me?

But then is there literally any alternative payment method in the US that does not involve a creditcard? It seems like the US banking system has just not invented anything in the last 30 years. Its not rocket science: money from my bank account to Deliveroo's bank account in (near) real time.

Surprisingly the US is much harder to convince. Ask people under 30yo in Aus or the UK when they last wrote a cheque, and the answer "what's a cheque?" is likely the response. Signing for a payment, magstripe, even using a PIN is mostly a distant memory.

I can go weeks without my wallet now, Samsung Pay on my phone works just about everywhere in Australia, and it's great. Banking app even lets me generate a code to get cardless cash from ATMs, should I need notes.

For transactions bigger than ~AUD100 I do have to enter my pin but that's a minor inconvenience.

It's what train companies in the UK send you 3 weeks after you fill a compensation for delay claim...

  > This is basically the sole "feature" of credit cards I value. Any time I'm buying something from 
  > somewhere that might act poorly, I use a credit card for the free leverage I have in a disagreement.

I don't understands your point. Are you saying the ideal scenario would be to fill the cards information each time? The fact that it's a credit card doesn't change that it was prefilled, a debit card or wire transfer is the same. Credit or not, if it's already there, the one that access your account can use it.

With a credit card though, you can do a chargeback, which not only give you your money back, also add a direct cost (and a steep one from what I understood) to the merchant that made the transaction. As far as I know you couldn't do the same with a debit card.

When I pay with my bank card with an internet payment through my bank, the authorisation is handled by me and my own bank, and nobody else. Nobody else can ever make that kind of payment without access to my password and my 2FA system. That's how it should work.

Between the payment and the delivery the company went bust.

I though I was out of the money, but after a brief search I found out that, although there is no legal requirement to do so, VISA in the UK offers (or at least used to) the same chargeback facility to debit cards as for CCs. I visited my bank branch which gave me a phone number to contact, sent in a bunch of paperwork and after about 2 weeks I got my money back. I was very pleased as you can expect.

In this scenario, the bank is jointly responsible for the transaction, and should refund you if the transaction isn't completed satisfactorily

Their story is about a situation where they gave explicit authorisation. They intentionally paid.

In the Deliveroo case, however, it's the inherent insecurity of credit cards that made that problem possible in the first place. In light of that, the ubiquity of credit cards for online payments where data is so easily copied and leaked, never ceases to puzzle me.

[1] https://www.wbs-law.de/datenschutz/unternehmen-darf-nicht-mi...

And I suppose that the effect you describe results from abusive requests from charge backs. I doubt you will be refused a mortgaged because you were a victim of theft in the past...

Don't be so certain about this. The credit reporting agencies are evil, nasty blackboxes and it is not transparent how your score is influenced, even by fraudulent stuff.

Additionally, you can and should file a police report for fraud when hit with such a scheme, it makes dealing with your card-issuing bank and the CRAs so much easier.

The bank went from "we won't help you" to "oh, we'll fix that" about as soon as I told them I had a crime reference number...

I guess this has something to do with the penalties for making a false police report being much higher (in criminal law terms) than lying to a bank.

Mostly chargebacks are for actual fraudulent use of the card, and the process also includes getting a new card number.

Lately, most chargebacks I’ve done have actually been issued by the card itself after they detected suspicious activity and sent me a text alert asking about specific charges.

In one case, it was a debit card which I had received in the mail, activated, and never used and had never left the house. That one was particularly bizarre and I let them know something was very wrong there.

Google this: "Account information disputed by consumer, meets FCRA requirements" and you will learn more.