Not upheld: Card / payment disputes complaint against Revolut Ltd

Decision detail

Summary

Mr P purchased a diamond ring for £2,000 on 7 July 2025 using his Revolut debit card. The ring developed defects over time, with diamonds falling out on two occasions. When the jewelers went into administration in January 2026, Mr P was advised to make a chargeback claim and submitted a request to Revolut on 5 February 2026. Revolut refused the request, citing the 120-day time limit under Visa scheme reason code 13.3, which runs from the purchase date. Mr P argued the time limit should run from when the defect became apparent or when the merchant could no longer provide a remedy. The Ombudsman upheld Revolut's decision, finding that the Visa scheme rules are strict and unambiguous, requiring disputes to be raised within 120 days of purchase, and that Revolut was correct not to raise a chargeback that had no prospect of success.

The Ombudsman's reasoning

The Ombudsman agreed with Revolut's interpretation of Visa scheme reason code 13.3, which requires disputes to be raised within 120 days of the purchase date, not from when the defect became apparent or when the merchant could no longer provide a remedy. Since Mr P made his chargeback request on 5 February 2026, over 200 days after the 7 July 2025 purchase, the request fell outside the strict time limits set by Visa. The Ombudsman noted that chargeback schemes are subject to strict criteria and rules set by Visa, not by individual card issuers, and that Revolut was correct in refusing to raise a chargeback that had no prospect of success.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website