PAYMENT REVERSAL

*********************

I read several articles and comments about cheating for P2P transaction, so we should understand the process of Payment Reversal :

1.A credit 💳 card holder may request his bank 🏦 to return the fund transferred to the account of Mr X. It is done by error or mistake. This Payment Reversal is known as CHARGE BACK also.

2. Such Charge Back or Payment Reversal may be initiated by the merchant, trader, or financial institution. The plea states that transaction done due to errors, disputes or fraud 🤥.

3.A company may display notice on the webpage - you need to find Bitcoin wallet. How to top up a Bitcoin wallet ? After payment, you will receive a Transaction ID, enter them below 👇.

4. Company requests the Bank 🏦 that the client didn't pay the fees thereof.

5. Bank system like PayPal, Western Union, Bitcoin Wallet, Phone 📱 Bill, and Payoneer etc have their own terms and conditions.

6. A scammer or manager of Binance or other company may make an excuse that accrued amount of rewards is suspended, and he sends request for Chargeback or Payment Reversal to the bank. We live in the world 🌎 of fools.

7. Reasons : Unauthorised or Fraudulent Transactions, Dissatisfaction with goods and services, Inconsistency on credit 💳 card statement, Duplicate Transactions, Cancelled Automatic Payment etc.

8. Most banks have Deadlines for filling a dispute about 30 to 60 days of the transaction date 📅.

9. Aggrieved party may put evidence, like transaction number and time with amount and screenshot of the receipt 🧾 etc.

10. The bank may charge a fee for Payment Reversal.

11. If the Receiver invested the credited amount then it is held as Loan and he may be sued and prosecuted.

12. Even UPI transaction done via Phone Pay, Gpay etc may be challenged and complaint for Reversal Payment may be put thereof.

13. If any ATM 🏧 doesn't discharge the currency notes then a notice appears on the screen about Reversal Payment as Top Up or Charge Back the Credit 💳 card within 24 hours. If a certain amount deducted thereof.