Banyan Tree ceases business for more than 2 months, guests still pay monthly credit card installments

In September, Banyan Tree, Dr. Protalk and Shuiyunzhuang under Bonjour Beauty suddenly announced the suspension of operations, and a large number of citizens who pre-ordered services by installment payments suddenly became victims.

Nancy, a retiree, has been patronizing Banyan Tree for 20 years. In November last year, she persuaded her staff to purchase new services. Now she still has to make a monthly contribution of RMB 1,741.

She said that she had never used two services, one of which was nearly 1,000 yuan a month, and she needed to contribute 12 months more. "When you see a bill (monthly statement), you won’t!”

A political party investigation found that the payment was made in interest-free instalments. Under the circumstances, credit card issuers will collect rebates from merchants, but consumers will lose the protection of "credit card refunds/disputed transactions". Among them, banks admitted to charge a service fee of 2% to 8% of the transaction amount.

Complaint cases involved a total of 69 million, half of which was unsuccessful

The Democratic Party’s consumer rights policy spokesperson Yuan Haiwen said that so far, more than 1,100 requests for help have been received. The amount involved has ranged from 2,500 yuan to 1.026 million yuan, totaling about 69 million yuan. However, more than half of the helpers have not succeeded in recovering them. discuss.

He continued that more than 70% of those seeking help used credit cards to pay in installments, and all failed to recover the payment.

Yuan Haiwen and his team sent a questionnaire to 10 card issuers this month to learn about the content of the interest-free instalment plan they cooperate with merchants and how the implementation affects the rights of consumers.

In the end, 6 institutions responded. Among them, Dah Sing Bank, China Construction Bank (Asia), and Bank of East Asia admitted that they had agreements with merchants and would charge “service fees” or “handling fees”, but they did not disclose the amount. Different merchants and the number of installments charge 2% to 8% of the transaction amount.

Yuan Haiwen said that according to his understanding, various financial institutions will charge the relevant rebates, some of which are 10% of the transaction amount.

He suggested that many organizations have stated that they will not disclose to cardholders or consumers the rebates obtained from merchants, and consumers' right to know is not protected.

He also believes that from the bank's evasive attitude, the rewards obtained by interest-free instalments are higher than a one-off transaction.

Nancy sighed, still making a monthly contribution of 1,700 yuan.

(Photo by Huang Weilun)

Nancy once applied for a refund to Dah Sing Bank after the Banyan Tree was shut down, but the other party stated that it was an instalment payment and therefore rejected her application.

(Photo by Huang Weilun)

Customers still have to contribute but have never used the service

Nancy, who is over 70 years old, is a retired former physical education teacher. She has been patronizing Banyan Tree for 20 years and has spent nearly 1 million yuan in total. Last year, she paid with a Dah Sing credit card.

She said that every treatment sold by Banyan Tree employees takes two years to complete. When she says too many times, the other party will propose to pay in installments and promise to postpone the treatment.

She said that she would buy meridian machine treatments before, and when the transaction last November, the other party actively suggested using a Dah Sing credit card.

Nancy continued to point out that after Banyan Tree closed its business, it had applied for a refund to Dah Sing, but the other party stated that the application was rejected because it was paid in installments.

She is still contributing for two courses of treatment, with a monthly payment of 1,741 yuan, but has never used the services. One of the services worth nearly 1,000 yuan requires 12 months of contribution. To put it bluntly: "See Zhang Dan!" The statement is "Dual!" She frankly said that after the incident, her emotions were affected, and she sometimes suffered from insomnia. "It's really good," and she said she would suspend her visit to the beauty salon.

Yuan Haiwen: The beautician staff induce customers to install installments from time to time

Yuan Haiwen criticized that the beautician staff would induce customers to pay in installments from time to time, but did not explain that they would lose the refund guarantee.

He added that the current installment payments only protect the card issuers, but they weaken the protection of consumers. He questioned why the protection of customers is reduced when banks make more profits.

He urged that the Monetary Authority should strengthen the supervision of installment payments. Banks should not exclude refund protection and compulsorily disclose the amount of rebates collected by banks from merchants.

He also suggested that the government should introduce "linked lender responsibilities" through legislation so that consumers who use installment payments can also obtain adequate protection.

Banyan Tree and other 3 beauty companies ceased operations and customs received 220 complaints involving $9.8 million in payment. Banyan Tree’s suspension of business and civil construction connection 250 cases for help involving money. Ten thousand victims: Zhong actively promoted the suspension of Banyan Tree and other 3 beauty companies the day before, Yuan Haiwen received 900 Sudden closure of beauty salons including Banyan Tree and other beauty salons with a total amount of more than 57 million. Consumer Council: The transaction has been carried out in recent months, appealing to the White Warriors not to be harsh on Banyan Tree and other 3 beauty companies. Yuan