Once issuing banks raise disputes, merchants have either 20, 30 or 45 calendar days (depending on the card network) to respond. They do so by submitting a document called a representment. The representment is the merchant’s opportunity to rebut your reasons for a chargeback.
If the merchant does not file a representment, your temporary credit will be re-classified as permanent once the deadline passes. In the event you did not receive a temporary credit, the funds will automatically appear in full in your account at this time.
When the merchant files a representment, however, your bank will receive it in a reverse chargeback process. Your bank will then either request that you submit a response to the representment, or it may respond on your behalf. It may do so without notifying you. It also has the right to close the case on its own.
If you used a Visa card, the merchant may choose to submit a second representment to rebut your response. In that event, a new period of 30 days, known as pre-arbitration, begins. If afterwards the acquiring bank still does not agree to the chargeback, the issuing bank can elect to move to arbitration.
If you used a Mastercard, the merchant has 45 days to respond. Should the merchant submit a representment, the cardholder then has 45 days to rebut it. If the issuing bank allows the cardholder to respond to the representment, the acquiring bank can elect to move directly to the final stage of the chargeback process, which is arbitration.
American Express and Discover (and Diners Club International, which it owns) employ an internal chargeback process. Merchants have 20 days to respond.
What makes Cryptiide different from other financial services firms is the value added service we provide by accompanying you throughout this complicated debit card or credit card chargeback process. Upon engaging our services, we will ask you to supply us with the following information:
Our financial professionals will then review this material, chart an appropriate strategy and prepare the document you will submit to your bank. Should it be necessary, one of our experienced recovery agents will then join you in as many conference calls with your bank’s dispute resolution center as are necessary. Our recovery agent will explain to your bank your reason to dispute a transaction.
In the event the merchant challenges your request, we will, of course, prepare a point-by-point response and continue to work with you in pursuing your case leading up to a successful dispute resolution.
Before filing an official complaint, consult with Cryptiide. We will provide you with a free initial review of your case. Should your case require our intervention and you decide to become a client,
we can use advanced technology and cross index our databases to provide information about the other party to the dispute, uncover their true identities and locate your funds.
Can a wire transfer be recalled? Yes, with the right tools, strategies, and a top fund recovery agency on your side. Keep in mind that wire recalls are more complex than credit card chargebacks or debit card chargebacks. Wire recalls are subject to consumer protection and banking laws that vary from jurisdiction to jurisdiction. It can be difficult for someone new to the wire recall process to sort out all of these details and present a case that will be cogent and convince banks to reverse transactions. This can be a tall order, and it is not a good idea to go it alone.
You get just one chance to make a wire recall claim. Do so with the most effective advocates on your side. Keep in mind that the merchant also has rights as well as the customer and banks are reluctant to reverse transactions. They want to keep the merchant as a client, and therefore, will only agree to a wire recall if there is sufficient evidence presented by advocates who present a compelling case.Cryptiide has engaged with more than 800 banks around the world. We understand the concerns of banks and present our clients’ cases using the jargon they understand. We have a long track record of success and work for our clients even in the most complex chargeback cases. Talk to Cryptiide professionals today and take the first step toward chargeback success.
