High profile promoter goes bust

[MacDaddy]

https://www.bbc.co.uk/news/uk-england-60322525

 

M&B Promotions has gone bust. Will this be the first of many? Time will tell...

[Supernaut]

Cracks were already showing last year: 

 

https://www.northantstelegraph.co.uk/news/people/more-top-comics-distance-themselves-from-woefully-handled-comedy-in-the-park-and-say-theyve-not-been-rebooked-for-next-years-gigs-3353529 

[Woodwind]

From the BBC article

 

"...The promoter thanked customers, artists and venues for their support and advised ticket holders to contact their bank or payment company for a refund..."

 

I feel very sorry for anyone who has splashed out on tickets.

My guess is most won't be seeing a penny back from their bank

[Woodwind]

2 hours ago, MacDaddy said:

https://www.bbc.co.uk/news/uk-england-60322525

 

M&B Promotions has gone bust. Will this be the first of many? Time will tell...

 

I think yes, we'll see a few promotions companies of various sizes folding this year.

I don't want to be too much of a pessimist, but I think we're in for a tough period.

[Downunderwonder]

11 hours ago, Woodwind said:

My guess is most won't be seeing a penny back from their bank

If paying by debit or credit card your payments are guaranteed by the merchant bank who has been taking fees all the long years in anticipation of having the occasional horse go lame along with the astounding profits. Banks don't tell you this, you have to ask.

[Woodwind]

10 hours ago, Downunderwonder said:

If paying by debit or credit card your payments are guaranteed by the merchant bank who has been taking fees all the long years in anticipation of having the occasional horse go lame along with the astounding profits. Banks don't tell you this, you have to ask.

I didn't know this. I assumed if a business went bust there were no protections.

thank you!

[peteb]

11 hours ago, Downunderwonder said:

If paying by debit or credit card your payments are guaranteed by the merchant bank who has been taking fees all the long years in anticipation of having the occasional horse go lame along with the astounding profits. Banks don't tell you this, you have to ask.

 

I could be wrong, but I thought that only applied to credit cards and not debit cards? 

 

[Downunderwonder]

6 hours ago, peteb said:

 

I could be wrong, but I thought that only applied to credit cards and not debit cards? 

 

I met a joker who made a business out of helping people get refunds for holidays paid for but not supplied due to covid. He said if it went through the merchant banking credit card systems then you're good. But you have to kick up about it.

 

If you look at your coffee receipt for your Debit Card tap and go it will say CREDIT on there somewhere and a little piece has been snaffled by the merchant's bank. Part of that goes to the card companies that own that side of the system and part to the bank.

 

If you put the debit card chip in and push the buttons it goes through eftpos and it's free, because banks don't have to handle your cash. Figured it out yet?

[Bassfinger]

11 hours ago, peteb said:

 

I could be wrong, but I thought that only applied to credit cards and not debit cards? 

 

If goods or services dont appear you can do a chargeback on a Visa or Mastercard debit card.  There is a bit of process, but it usually succeeds.  Done it once myself.

 

 

[Downunderwonder]

1 hour ago, Bassfinger said:

If goods or services dont appear you can do a chargeback on a Visa or Mastercard debit card.  There is a bit of process, but it usually succeeds.  Done it once myself.

 

 

How did you know you can do that?

 

I didn't know about debit card chargebacks until I met that joker. He worked for donations. I guess he felt charging for something that should be common knowledge was bad form. The sorts of sums involved would probably make for very grateful clients. European holidays out of NZ don't come cheap.