![]() ![]() They review pertinent details, such as whether the charge was a card-present or card-not-present transaction. The bank initiates a payment fraud investigation, gathering information about the transaction from the cardholder. In an effort to provide better service to customers, though, banks will generally move quickly on disputes. Once the bank receives the cardholder’s inquiry, the Federal Trade Commission rules give them 30 days to respond, acknowledging the customer’s claim. Let’s assume a customer contacts their issuing bank and claims that a transaction was unauthorized. It depends on whether the merchant opts to fight back against the dispute claim. For instance, if the incident shows signs of a larger, coordinated scheme, the bank may relay the matter to law enforcement or other agencies, especially for interstate offenses.Įven if law enforcement doesn’t get involved, the chargeback process could take weeks, or even months, before it’s finally resolved. The actual investigation process is just the beginning, though. In fact, most issuers will automatically offer a temporary credit at the start of an investigation to make their customer happy. The bank can ask for an extension, but if the investigation takes more than 10 days to perform, they will typically issue the cardholder a provisional refund. If fraud is reported or a ‘not authorized’ dispute is lodged, a 10-day period begins in which the bank must complete their investigation. CashApp might be good for moving money around between friends and family, but DO NOT take it outside of the trusted circle, and for God's sakes, don't use it as your primary bank or a means of holding value.How Long Do Bank Dispute Investigations Take? Not insignificant, but not crippling.īeware, kids. Luckily, there's only a hundred bucks in there. I anticipate the same level of care and attention to this problem that I received about being robbed months ago. ![]() At present, I am unable to withdraw the money in CashApp, even though the email clearly states that I can do so. Do not put money in there that you cannot afford to lose. Further, I would treat CashApp like a casino. If you are defrauded your options are to eat it or get banned from CashApp. Lesson to you all: DO NOT USE CASHAPP to conduct business with small businesses or independent vendors. If you have any issues, we recommend that you link a previously used or a new card/bank account. If you have a stored balance, you can Cash Out the funds. We cannot provide further details regarding our decision, which is final. Reasons for this decision may include your account history, transaction disputes, or other violations of the Cash Terms of Service. Your Cash App account has been closed and can no longer send or receive payments. Okay, WTF? I send a support request via the app to CashApp and get an insta-reply: Hello , So I tried it again here at work where it worked the day before. Message I got from CashApp was that my card needed to be activated. Of course, her response was nothing but plications and a general lack of interest in paying me back, and sure enough after several weeks my refund request on CashApp was ignored, so I finally contacted my bank and opened a case.įast forward to Thursday, my credit card bank concluded its investigation and reimbursed my account for the transaction. I also made contact with the vendor, and she actually responded. Your ONLY way of being made whole is to kindly ask the thief to please give me my money back? Think about this for a second and you'll understand why you should NEVER conduct business through CashApp. Let me point out for a second how ridiculous this is. So, having concluded that I was not going to be receiving the item I paid for, I sent a refund request through CashApp, this being your only way to be reimbursed for fraud. Typical story, right? Well, lucky for me, I paid for this through CashApp via my credit card issued by a reputable bank. I paid someone for something and they disappeared with the cash. ![]()
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