Re:Can the Visa-Mastercard duopoly be broken?
by mellavora on Thursday August 18, 2022 @10:03AM
(#32509740)
not sure where you get the 0.0001% figure.
The protections are part of the regulations.
A consumer can reverse a SEPA Direct Debit transaction at any time. This is called a chargeback. A chargeback is allowed up to 8 weeks after the date of the direct debit with a valid mandate and up to 13 months without a valid mandate. At most banks, the consumer does not have to give a reason for the reversal.
Re:Can the Visa-Mastercard duopoly be broken?
by Symbiote on Friday August 19, 2022 @08:17AM
(#32520062)
Direct debits are the thing used to automatically pay your electricity bill every month. A different system with different rules to a one-off personal or business money transfer.
The protections are part of the regulations.
A consumer can reverse a SEPA Direct Debit transaction at any time. This is called a chargeback. A chargeback is allowed up to 8 weeks after the date of the direct debit with a valid mandate and up to 13 months without a valid mandate. At most banks, the consumer does not have to give a reason for the reversal.
https://help.mollie.com/hc/en-us/articles/115000796469-How-d...