Ramon Yuen Lashes Credit Card Firms Over Fees

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2020-04-13 HKT 13:45

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  Democratic Party district councillor Ramon Yuen says it's a double loss for consumers to pay charge-back fees when they're seeking a refund after a company has collapsed. Photo: RTHK

Ramon Yuen speaks to RTHK's Damon Pang

Democratic Party district councillor Ramon Yuen on Monday called on credit card companies to waive charge-back fees for customers seeking a refund because firms have gone out of business.

The party received more than 2,400 complaints involving $16 million after two travel agencies, Wefly and Gogogo Travel, closed down late last month.

"The responsibility for the current situation is not on the consumers," Yuen said, saying it was a double blow for the credit card companies to go ahead and charge fees even though the firm had gone bankrupt and the customer had missed out.

Yuen urged all affected customers to seek a charge-back as early as possible because there's a time limit.

He also said that as the economy sours more consumers could find themselves in similar situations - and using credit cards could offer some protection.

Yuen called on the credit card companies and banks to take on more responsibility in this area and help the consumers.