Looking for advice on this situation. Sent $2,500 via Zelle to Scammer - Bank Says I Authorized It Any guidance would be greatly appreciated.
Details: I'm in a situation where I need to understand my legal options. Has anyone dealt with something similar?
This happened to me with a different processor. The demand letter approach works — cite their Terms of Service provisions about timely disbursement and threaten arbitration. Most processors settle to avoid the cost.
For anyone in this situation: don't rely on a single payment processor. Always have a backup processor ready to go. Diversification isn't just for investments.
This happened to me with a different processor. The demand letter approach works — cite their Terms of Service provisions about timely disbursement and threaten arbitration. Most processors settle to avoid the cost.
Keep in mind that payment processor disputes are governed by the contract you signed, not consumer protection law (since you're a merchant). Read your merchant agreement carefully for the dispute resolution process.
Update: Thanks everyone for the guidance. I consulted with an attorney and we're moving forward. The advice here helped me understand what questions to ask and what to expect. Will update when there's a resolution.
Went through this 6 months ago. My advice: be persistent but professional. Companies count on you giving up. Send follow-up letters every 2 weeks, reference your original complaint, and escalate to a supervisor each time. Squeaky wheel gets the grease.
Chiming in late but wanted to share: my wire transfer recall took 3 months but I eventually got the full amount back. The bank is required to make a "good faith effort" to recover under UCC Article 4A.
Pro tip: if your payment processor tells you "funds will be available in 90-120 days," that's usually a rolling hold. New transactions extend the clock. Stop processing through that account immediately.