Hello
I have been asked to pay a 20% deposit for someone to replace my roof but this job is 3 months away.
The deposit is asked to be paid to their bank account and I don't want to risk losing it if the business goes bankrupt or the individual scams me.
Is there a financial product that let's me pay with a credit card's fees to a bank account (BSB and account number) so that I can do a chargeback in case something unfortunate happens?
Thanks
How much is this 20%?
Tell them you will deposit the 20% on the day.
If they don’t like it then find someone else to do the work.
You could be earning interest with that 20%.
Trust your gut feeling.
Check out the building regulations in the state you are in as there are limits on payments a licensed builder can ask for in some states as a deposit. Ages ago it was 10% in NSW.
For NSW check out:
https://www.fairtrading.nsw.gov.au/housing-and-property/buil…
Have you checked the builder/company to ensure they are licensed and do not have any black marks against their name?
Is there a contract?
Citibank’s CitiPayall can pay to a bank account on credit.
DYOR on whether that allows chargebacks. (And what the other comments say about not paying until work starts seems sensible.)
there is nothing to charge back if they closed the account, don't paid money to anyone unless they have started the work
Using an actual card chargeback gives you 180 days from 'expected date of delivery'…
Not sure about EFT.
Even if you could, which I doubt you can, what is that maximum chargeback period? 90 days?