Understanding Chargebacks and Fees

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Questions and Answers

What must you do if your contact details change to ensure the security of your information?

Neglect reporting any changes

Wait for a scheduled update

Update your details promptly (correct)

Inform Customer Services as soon as possible

What could happen if you do not provide a valid mobile number for your account?

All your payments will be declined

Your account will be temporarily suspended

You will not receive marketing offers

You may face restrictions on online transactions (correct)

In the event of a dispute with a merchant, what is your responsibility?

Report the merchant to authorities

Settle the dispute directly with the merchant (correct)

Request assistance from OnePay customer service

Contact your bank for a refund

What should you do if your Card is lost or stolen?

Call the Lost and Stolen Card Contact Number without delay Signup and view all the answers

What does the Privacy Notice indicate about how Personal Data is handled?

It ensures compliance with applicable laws and regulations Signup and view all the answers

What could trigger a request for additional information about your OnePay account?

Changes in your normal spending pattern Signup and view all the answers

You should report your lost or stolen card via which method?

Use the specific Lost and Stolen Card Contact Number Signup and view all the answers

Which of the following best describes the responsibility of OnePay regarding the goods purchased with your account?

OnePay is not responsible for any aspect of the purchased goods or services Signup and view all the answers

What does the term 'Activation' refer to in this Agreement?

The process where the Card is activated by the Customer Signup and view all the answers

Which of the following describes 'Available Funds'?

The value of unspent funds loaded onto your OnePay Account Signup and view all the answers

What does the term 'Chargeback' mean?

The procedure to claim money back from a service provider’s bank for a disputed transaction Signup and view all the answers

Which day qualifies as a 'Business Day' under this Agreement?

Days when banks are open for general business in England Signup and view all the answers

What is required during the customer due diligence measures (CDD)?

Identification and verification of your identity Signup and view all the answers

What does the Agreement entail for a user's rights and obligations?

Obligations to comply with the terms and conditions set out in the Agreement Signup and view all the answers

In what manner can a user manage their OnePay Account?

Through a mobile app using security details Signup and view all the answers

How can users accept the terms and conditions of the Agreement?

By submitting a completed application form and/or using the OnePay Account Signup and view all the answers

What is required for a successful chargeback to be attempted?

You must be considered eligible with legitimate reasons. Signup and view all the answers

What happens if a disputed transaction is found to have been authorized by you?

The transaction amount will be deducted from your Available Funds. Signup and view all the answers

How much notice is typically required before changes to the agreement take effect?

2 months’ written notice. Signup and view all the answers

What discretion is given regarding chargeback administration fees?

Administration fees may be charged at the provider’s discretion. Signup and view all the answers

When might immediate changes be introduced without prior notification?

If new features or products do not amend existing terms. Signup and view all the answers

What must you do before the chargeback process is initiated?

Agree to the terms of any potential fees. Signup and view all the answers

What is the reason for not providing 2 months’ notice for changes in certain situations?

If required by new legislation or regulations. Signup and view all the answers

What should you expect if a chargeback is not successful?

You may have to repay any fees initially charged. Signup and view all the answers

Study Notes

Chargebacks

Chargebacks may be raised at the discretion of the service provider if deemed appropriate, but success is not guaranteed.
An administration fee may apply for initiating a chargeback, information on fees will be provided prior to starting the process.
Details regarding timeframes for Mastercard adjudication and follow-up communication will be given.

Refunds & Disputed Transactions

If a refund is issued for a disputed transaction and later proven to be authorized, the refunded amount will be deducted from the account.
Any fees or charges owed will be recharged to the account if the transaction is confirmed as valid.

Agreement Changes

Changes in favor of the customer, such as lowered fees, will be communicated promptly.
New features or services can be introduced immediately without altering existing terms, but customers will receive notice before usage.
Any significant changes require at least 2 months’ written notice unless legally mandated otherwise; in such cases, customers will receive as much notice as possible.

Customer Responsibilities

Promptly update contact details to maintain security and receive important notifications regarding the agreement.
Lack of a valid mobile number may hinder online transaction processes, including identity verification through one-time passcodes.

Data Protection

Personal data collected will be handled according to applicable laws and the company’s Privacy Notice.

Merchant Disputes

Customers are responsible for resolving disputes with merchants regarding purchases made via the OnePay account.
The service provider is not liable for the quality, safety, or legality of purchased goods and cannot halt transactions once processed.

Communication Protocols

Customers must contact Customer Services for inquiries related to their OnePay accounts.
Lost or stolen cards must be reported immediately using the dedicated contact number or online portal.

Essential Terms

Agreement establishment occurs upon submission of the application form and usage of the OnePay account.
Key definitions include “Activation,” “Agreement,” “App,” “Available Funds,” “Business Day,” and “Card” to clarify terms of use.
Customer due diligence (CDD) measures are mandated to comply with anti-money laundering regulations.

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Description

This quiz covers the process of raising a chargeback, including eligibility and the potential for administrative fees. Gain insight into the factors affecting the success of a chargeback and learn how financial institutions handle disputes. Perfect for those looking to understand transaction disputes better.