Most people face issues such as disputes, frozen, or blocked bank accounts due to P2P selling.
Here’s how to recover a blocked bank account:
1: Write an application explaining the reason for the transaction. It is preferred to mark it as a personal transaction or state that you were selling a mobile phone through OLX.
2: Attach the CNIC of the sender along with the transaction receipt.
3: If possible, obtain a verified application from the sender, confirming that the payment was sent intentionally and not mistakenly. This application should be stamped by the sender’s bank.
4: Both applications (yours and the sender’s) should mention the same purpose for the transaction.
How to Decrease the Chances of a Dispute.
1: Always confirm that the sender has deposited the amount in cash and has not received it from another bank account to avoid being part of a chain dispute.
2: Always sell to an authorized Silver or Gold Merchant.
3: Always verify the CNIC of the sender and ensure that the CNIC matches the bank account title.
4: Never forget to obtain a receipt for the transaction.