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With a bank you might be able to get it back I'm not sure that's true. As I mentioned in another comment, the CHAPS payment system doesn't allow transactions t
by mootothemax 15y ago
With a bank you might be able to get it back
I'm not sure that's true. As I mentioned in another comment, the CHAPS payment system doesn't allow transactions to be reversed, and the other major system in the UK, Faster Payments, I believe has a 24 window for banks to request a reversal, usually in case they transmit something by mistake.
Honestly, I think we place too much faith in banks sometimes.
- StavrosK 15y agoProbably... At least it would be more traceable, though...
- nokcha 15y agoIn the US, consumer liability for fraudulent withdrawals from bank accounts is generally limited to $500 by federal law, provided that the consumer detects the fraud and notifies the bank within 60 days. The bank is responsible for the amount in excess of $500. Many banks even have a policy to refund the entire amount fraudulently deducted.