What Can You Do if the Bank Closed Your Dispute?

At MyChargeBack we receive inquiries on a daily basis from scam victims who have opened on their own a service-related chargeback request at their bank, which then closed the dispute. They ask us to re-open or re-file their request, but sadly, at that point we can’t. Once your bank opens a dispute with a merchant, the merchant then has a fixed number of days to respond. If the bank then accepts the merchant’s version of events rather than yours, your case is closed and it cannot be resurrected.

That’s why consumers are always best advised to consult with a fund recovery firm like MyChargeBack before initiating any chargeback request of their own, especially when the merchant is an online scammer. We know the system. And we know the rules and regulations established by the charge card companies better than banks do, many of which have never even heard of a service-related chargeback. And when we explain it to them we speak the language that bankers do, which makes it easier for them to understand. That’s the critical value-added service we provide.

100% Effort

If, for any reason, we think your case is unwinnable we’ll tell you that right at the start and decline to accept it. We’re not in the business of wasting our time or giving you false hope. While we do win most cases we do agree to take,  we can’t win every one of them. There are simply too many variables. Each transaction history is different, each bank is different, each merchant is different. So no, we can’t guarantee 100% success. What we do guarantee is 100% effort, and we provide that no matter how long a particular case may take.

That 100% effort also includes an appeal to the national banking ombudsman in the event the bank refuses to open a dispute on behalf of the client or if it violates charge card rules and regulations.

So Are There Any Other Options Left?

There are other types of services that a scam victim can contract to pursue the case further if a chargeback is rejected. One of them is a wire recall. Designed primarily for those who paid a merchant with a bank transfer and, therefore, cannot avail themselves of the protections provided by credit card companies, wire recalls can be an alternative for consumers whose chargeback requests were declined They are also appropriate for charge card transactions that were made more than 120 days beforehand, the traditional cut-off set by credit card companies for submitting chargeback requests.

In comparison to chargebacks, however, wire recalls generally take longer to reach closure and are somewhat more expensive. As opposed to a chargeback, which focuses on the consumer’s bank— known as the issuing bank— a wire recall focuses on the scammer’s bank — known as the receiving bank. Additional time and effort is always required to convince the receiving bank that its client is a scammer who has violated the law.

Of course, if neither a chargeback nor a wire recall is successful, there remains the possibility of filing a law suit.  For that reason, MyChargeBack works alongside a number of experienced trial attorneys who specialize in fund recovery, as well as other professionals like private investigators, whose work is critical to building a credible court case. This route, however, can take up to two years to conclude and costs much more than the alternatives. In most cases, however, the scammer agrees to settle out of court rather than risk losing and generating an avalanche of negative publicity.

In any event, MyChargeBack has a strategy available for every type of transaction and every type of consumer.