Consumer complaint received 2017-08-03
Company: INDUSTRIAL AND COMMERCIAL BANK OF CHINA (USA), NATIONAL ASSOCIATION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
Dear Sir/Madam, I am the victim of fraud by an unscrupulous merchant in XXXX. I paid via a US-issued credit card a sizable initial earnest money for a purchase that was never consummated. The product in question was never delivered to me either. Having failed to get the merchant to return my initial payment, I proceeded to contact my credit card company to dispute the charge. The credit card company subsequently notified me that the dispute was denied. Instead of pursuing the case with the fraudulent merchant, they are asking me to pay for a transaction that was not consummated. Outlined below is a detailed description of what has transcribed.
I would like to kindly ask for your assistance in filing a complaint against the credit card company and to work with them to reverse their request for me to pay for the disputed charge.
The credit card company has an obligation to protect my consumer rights as their customer. They should have pursued this case with the unscrupulous merchant. Instead, they are victimizing me again by asking me to pay a significant amount of money for a purchase that was never completed.
My objective is for the credit card company to support me in my dispute on this particular charge and to reverse their request to charge me for this transaction that was never consummated.
I would appreciate an opportunity to hear from you and present my situation 's background in more detail as needed. I look forward to hearing from you on how you can help with my case.
Thank you in advance for your response.
Kind Regards, XXXX XXXX Email address : XXXX -- -- -- -- -- DETAILS - An XXXX  credit card was applied for at the Industrial & Commercial Bank of China ( ICBC ) on XX/XX/XXXX for the purpose of using it while on business in XXXX. The credit card was applied for and issued in the United States.
- On XX/XX/XXXX, I went to the XXXX XXXX XXXX XXXX XXXX and decided to purchase a chrome tourmaline valued at RMB XXXX. An initial earnest money of RMB XXXX ( equivalent to US {$4300.00} ) was paid with my ICBC-issued XXXX credit card as a deposit for the gemstone.
- The merchant and I agreed to complete the transaction on the condition I am able to withdraw from a local XXXX-area bank the remainder RMB XXXX in cash. Since I was unable to withdraw such a large amount of cash, I informed the merchant onXX/XX/XXXX to cancel the business transaction and requested a refund of RMB XXXX back to my credit card. On the same day, the merchant sent me a verbal message via the XXXX messaging app ( which I have kept ) saying that he will cooperate and return the money. I subsequently called him numerous times to pursue next steps with the refund but he was unresponsive.
- I filed a dispute with the ICBC credit card on XX/XX/XXXX to reverse the charge. I provided relevant information in my possession ( including the merchant 's details, the RMB XXXX  credit card receipt, as well as the recording of the XXXX message left by the merchant ). The dispute case was filed onXX/XX/XXXX.
- OnXX/XX/XXXX, I received a letter from ICBC 's New York Branch informing me the dispute claim was denied.
- As mentioned, the purchase was never consummated but a sizable earnest money was paid. The merchant was not entitled to keep my earnest money and the product in question was never in my possession.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation