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Typically, with physical products this is a fair bit easier as you simply get a specilist to look at ait, and the vendor will pay the cost, if they request such checking. But of course, that ain't ever going to happen here. So they'd be kind of up the creek.
Vavle restricted that account because a charge back have been made, for now the game is probably still in that account (i can't confirm it since their account is private and even then i would have no way to know what items are concerned by the charge back but when it happened for me a few years back the items concerned were not removed from my account and they never have since i've resolved the issue) but it will probably be removed once the 4 weeks restriction have passed however it will come at the cost of their account since it will become permanently locked from any utilization of the store/market and the payment method used in the transaction (Paypal account, specific credit card) that received a charge back will certainly be blacklisted by Steam, never be able to use it on Steam ever again even on another account.
Most of the times when a charge back is made it's because a fraudulent use of a payment method have been made, like for a stolen credit card for example but since it's not always the case (Banks can be annoying on how you use your money sometimes...) Steam will offer a month (4 weeks) to the concerned account to resolve the issue on their side before locking it forever (Steam don't take any risk and don't offer second chance since they have no way to know how or why the charge back have been made).
I absolutely agree, it's a matter between the user and Steam but the user made the whole thing public by posting about it in the forums so of course other users will respond to say what they think about it.
The game gets removed upon a successful refund.
For a chargeback I ASSUME the game remains on the account but is locked from been accessed or temporarily removed during the chargeback period as the onus is the OP to prove they did not purchase the game but they did purchase the game.
Because we are trying to help them understand why the account is locked and what it means if they do not reverse the chargeback - a permanent account lock.
You may be want to understand consumer law which is applicable to both the purchaser and the seller commonly known as a contract both parties agree to.
The OP purchased a product, did a chargeback (which is for UNKNOWN charges) BUT the OP knew about the payment because they actually paid for the game.
People have been banging on about this for decades when a game 'doesn't work' and there should be some legal redress, but there is none in this instance.
The UK isn't the US and even there the class action law suits threads that pop up on release day 1 never come to anything.
As a gamer you need to be doing some research on what you buy, if it says it is a buggy mess then it is and avoid.
If you have a technical problem that may be your hardware you will just have to accept you bought a pup, you aren't going to get an ambulance chaser to no win no fee it.
Basically the your petrol mower isn't faulty because it stopped working when you filled it with diesel clause.
I can't see the OP's profile because it's private but the ball is in the OP's hands. If he values his steam account then he will reserve the charge within the time. Then work it out with support on his refund.
Can't see any other way around this for him unless his takes legal action which in my opinion is fruitless.
Valve is always being taken to court and sued for something it appears and by the looks of it, it's very rare valve loses a case and if they do, it goes on for years in appeals.
OP really should've consulted the game forum, help sections or then gone through the manual refund rather than doing a knee-jerk chargeback. No legal council will entertain a case like this and I can't see any court hosting something so fruitless. It would also cost the OP around $25,000 in fees for the sake of a £4 refund.
I taken a company to court over a faulty car and it cost me money, stress and time and it was all for nothing. If the game was only £4, then he should reverse the charge back and suck it up. He probably has more value in items in his inventory than this game cost. But what the OP should of done in the first place was to refund the game before the 2 hours was up.