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This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to require banks to apply the same rules to two and three party credit card transactions. More details
Submitted by Paul Qureshi – Deadline to sign up by: 09 June 2009 – Signatures: 19
More details from petition creator
Currently banks are only required by the banking code to investigate disputes between two parties when a dispute is raised over a credit card payment.
However, many services, such as PayPal and Amazon, now involve three parties. When someone buys something on eBay, for example, the credit card transaction is with PayPal. PayPal then sends the money, after taking their cut, to the seller. However, the dispute over the transaction is often with the seller, a third party as far as the banks are concerned.
This makes it impossible to dispute PayPal payments with your bank. The banking law should be changed to require the banks to consider such three party transactions.
