I transacted with an overseas merchant using my credit and debit cards, however as the goods delivered are not up to my expectations, I have requested chargebacks from my bank. However my bank refuses to refund my transactions as they quote their card agreement stating that they are not responsible
Thats correct. you cannot ask your bank to charge back , you need to refund from the merchant for degraded goods . ifhe doesnot refund then you can go to consumer court.
The most important thing, in such cases of unauthorized transaction, is to determine the party that shall be held accountable and responsible for the chargeback. In the case as stated by you, the unauthorized transaction was facilitated by the overseas merchant and the transaction itself was not unauthorized as the goods involved in the transaction did not match up to your expectations. Thus in such cases the overseas merchant must be held accountable for facilitating the chargeback.
However, in certain circumstances it is the bank's responsibility to ensure payment of chargeback from the overseas merchant's bank and the entire process of payment of the chargeback is taken care of, by the consumer's bank itself.
This is subject to the agreement entered into by yourself and your bank pertaining to payments made via credit cards. Hence the same can be determined with assurance only after careful examination of the credit card agreement.
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