Chargeback Fund Recovery
Scope of Process: They claim to cover virtually any service that involves a credit or debit card (aka card issuers), online transactions, etc. To make things clear, they have the ability to process your chargeback requests all the way up to 6 months.
Payment Collection: On the website, you will notice that they handle chargebacks from anyone for any reason. You pay an initial charge for a 90-day subscription period which gives them an unlimited access to all of your information and private transaction details (along with your online credentials). You will get an email with a personal case manager that will be able to help you tackle any type of chargeback with ease.
Payment Transfers: Once you close your case, you get access to your private payment history and payment transfers.
How to avoid chargebacks
The easiest way to avoid having your money stolen or funds blocked by a fraudulent entity is to check the authenticity of a website. Before engaging with the website, make sure that the URL (web address) of the website matches that of the company. Also, be aware that website address might have extra characters attached, such as .co or .onion or other extensions.
Another method that users can adopt is to ensure that the “HTTPS” indicator is active on the web page.
The best way to detect if a company is legitimate and fraud-free is to conduct a web search. You can use a specific keyword such as “chargebacks”, “chargeback recovery” or other similar words. If the search returns hits, this can be an indication that the site is legitimate and the charges will be honored.
What is a chargeback?
An electronic chargeback is a simple way to dispute payment charges for services provided to customers. Online retailers have to validate if the charges are legitimate and can reclaim the unauthorized charges back to the customers.
How does a chargeback work?
Imagine you purchase an item from an online retailer and pay with a credit card. However, the chargeback shows up on your statement showing a charge of Rs.1,500. Even though you pay Rs.50 extra for the item that you purchased, the store still went ahead and purchased that amount of money. Your credit card is blocked and no other money can be taken from you by that retailer. In this way, the chargeback mechanism provides protection for consumers who are victims of online fraud.
A brief overview of what fund recovery companies can do for you
For those who have fallen prey to a fraudulent entity and who lost substantial amounts of money and were totally emotionally affected by the experience, it is not uncommon for the fraudsters to go after their loved ones or intimate partner for emotional support. A solution to this issue is for the fraudsters to use the money they stole from the victims. As a result, victims have to pay for the expenses of the fraudsters when they are ready to be released from prison.
Fund recovery companies exist in a collaborative effort between the fraudsters and the victims. The companies work to identify the victims and facilitate the release of the criminals and their funds to the victims, who will receive their funds in equal amounts.