Wire Transfer Recalls

Needless to say, not everyone pays with a credit card or debit card. Some consumers actually don’t have them. Or if they do have them their credit limit has been reached. Or even if it hasn’t been reached, the amount they have to pay will exceed it. 

In such cases, payment can be made through a bank wire transfer, which routes the money directly from your bank account into the merchant’s. 

There is, however, one major drawback for the consumer who chooses a bank wire over a credit card or debit card to affect payment: There is no possibility of a chargeback. Chargebacks are a right provided by the credit card networks to its cardholders, and they are limited to the transactions made using their own credit cards and debit cards. Therefore, even if you do have a credit or debit card, you cannot apply its chargeback rights to any other form of payment. 

So in the case of bank wires, an entirely different procedure is required in order to recover your funds. Luckily for our clients, MyChargeBack has developed such a procedure.

How MyChargeBack Helps

Bank wire transfers are, of course, subject to national banking and consumer protection laws. These differ from jurisdiction to jurisdiction. MyChargeBack’s team of experts, which brings to the table decades of banking, legal and regulatory experience, will investigate your case to determine if and how the transaction may have been inconsistent with the relevant laws and regulations applicable in your country. 

Bank wire recalls are  a complex process and one that requires an intensive, coordinated effort by our investigative and recovery teams. It involves multiple steps that can extend from three to six months.

MyChargeBack will first analyze your case to ensure that it meets the minimum standards for requesting a bank wire recall. These standards are considerably higher than for submitting a chargeback, since you are not governed by the same consumer protection guidelines. Once your case has been accepted by our team, we will work with you to prepare all of the supporting documentation and evidence that your bank will need to process your claim. We will guide you through this process until the bank makes its final decision.

The process is very nuanced, and we provide the shoulder, knowledge and experience that is required. You have consumer protection rights, but the merchant will fight for his as well. Merchants work with professional companies to assist them with claims. Isn’t it time for individuals to have access to the same level of expertise as well?

MyChargeBack has cooperated with over 700 banks internationally on behalf of its clients. Our strategically-crafted arguments are presented in the language bankers understand. Our promise to you is this: We will invest 100% of our effort in your case and fight for you throughout the entire process.

While the ultimate disposition of a wire recall case is made by the bank, MyChargeBack only accepts wire recall cases that meet all the necessary criteria to justify a refund. 

We bring our expertise in complex payment disputes to the consumer’s side.