Hello, I recently fell victim to a scam on social media. In summary, I was threatened with being reported and banned, and in a moment of panic, I transferred money to my CashApp and purchased Bitcoin (I understand it was not a wise decision, so please refrain from commenting on that). As a newcomer to this, I’m still learning the ropes.
I’ve already reached out to my bank over the phone, and they provided provisional credit while investigating the dispute. I also contacted CashApp, but their assistance was limited.
I’ve come across stories where banks deemed the transactions legitimate because they were conducted through CashApp, resulting in the provisional credit being reversed. As an unemployed student, I’m unsure of my options if this were to happen. Would the bank retract the provisional credit and require repayment? Is there a likelihood they might view the claim as illegitimate?
I kindly request no judgment. Thank you for your understanding.
It seems sense that you’re traveling into unknown country. Usually, banks look at disputed transactions in great detail. Although provisional credit provides short-term assistance, results differ according on data and regulations. It is imperative that you assist the bank’s investigation. Reversing the provisional credit is possible if it is found to be valid. You have a better chance of keeping the credit, though, if you can provide proof to back up your claim. Keep checking in with your bank for developments, and if you need further help, think about getting legal counsel.
dear clients my advise,is that provisional credits are not always permanent. The bank may reverse the credit if they find the charge was legitimate. However, if it’s confirmed as fraudulent or an error, the credit becomes permanent.
They retract it. You should anticipate being overdrafted if the credit is the only reason your bank balances are positive. The term “credit” has a specific meaning.
While the bank acknowledges that you were a victim of Fraud, I need you to understand that the bank is a third party in the contract, and thus they aren’t bound to cancel the transaction as they are not privy to your contract. So sorry, next time be careful with money