You can’t Charge Back if you use Indian VISA and Master Debit Card. Suppose you buy a service or product online from Some one using your Indian Debit card. And if you are not satisfied with product or service you don’t have option to Charge back /Dispute the Transaction with your Bank.
Few month ago I purchased a server from US company using my Indian Debit Card (HDFC Bank) . I was not satisfied with the service so I request for refund to the company but they did’t then I complaint to the Bank. They said “Once money is transferred successfully to the company I can’t do anything”. I check there(HDFC Bank) policy and found it is correct.
I check the policy of other bank like ICICI bank etc and found that they also don’t support charge back in case of Debit card Purchase.
So I suggest you all if you purchase any thing online next time must use your Credit card instead of Debit Card and NetBanking. Because You can charge back or dispute transaction with Credit Card issuer till 180 days from date of transaction.
RBI should do something for Debit card Charge back system. Few months ago one of Pakistan Company (having account is UAE) has take more than my 40K INR without providing me any kind of service. And once I told my Bank (ICICI Bank) , They replied they can’t do anything, talk with them.
If I used Credit card for those transaction then I could have file Dispute on related transaction. In that case Bank would ask for proof of delivery of goods or service from that company. Once they couldn’t . I would get my money back.
I have learnt these after loosing money and time I suggest you guy to use Credit card for your money Safety. You can use power of VISA and Master card with Credit card in better way in comparison to debit Card. If you use Credit Card you have chance to charge back seller/ service provider using your bank till 180 day from date of transaction.