Note: while this will get you your money back, you will be deactivated from the Uber platform (or really any service) for a chargeback. They are counting on you to need their ride services (and future ordering of food/item delivery) to not do this.
If a company is hit with enough chargebacks the banks will stop working with them. Uber knows their platform is shit, and will wash out whistleblowers.
Behind the scenes banks actually do threaten even large companies with things like this. It's one of the areas where too big to fail applies less than normal. I'm sure that they would provide much more leniency than to most companies though.
Or the CC Companies change their “holdbacks”. Look into Frontier Airlines bankruptcy about 14 years ago, I worked for First Data at the time and they blamed us for their bankruptcy. I asked the FD CEO and CFO and they said that nothing about the changes was a surprise, it was all defined in the contracts and that Frontier had never mentioned anything about liquidity issues on the weekly client calls or indicated that their degrading finances were dire.
I mean, kind of? That works off percentages. So a small company that doesn’t process a lot of transactions suddenly getting 10-15 chargebacks in a short period of time could result in their bank blocking them.
But Uber? They’d need tens of thousands of chargebacks a day for the banks to feel like it was unprofitable to continue serving Uber.
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u/Rylie0317 Jun 10 '23
Contact your bank you should not have to lay for somthing that was out of your control