If the transfer is instantaneous, the fraudster could have cashed out already from the other bank account. There is nothing in the other party’s bank by then.

If the transfer is instantaneous, the fraudster could have cashed out already from the other bank account. There is nothing in the other party’s bank by then. The chargebacks in credit cards come mostly from the credit card issuer pockets, and are funded by credit card fees. Not the case with banks that don’t take any fees on transfers.