If I accept payments by bank transfer, can I receive chargebacks?

[KScyprus]

Hey there!

If I accept payments by bank transfer, can I receive chargebacks?

Can anyone recommend a good bank (USD, EUR or GBP for Cyprus or UK or UEA company) to receive bank transfers that does not have the possibility of receiving reports in a simple way and that does not close our account if a customer complains?

Currently our chargeback rate is 3-5%, so working with credit cards is difficult.

Thanks in advance.

 

[erni]

NO - if you get paid by bank transfer the money is yours and gone from the sender. In rare cases where fraud is committed the banks can try to get the money back, but in 99,9% it is not possible.

 

[KScyprus]

NO - if you get paid by bank transfer the money is yours and gone from the sender. In rare cases where fraud is committed the banks can try to get the money back, but in 99,9% it is not possible.

hey, thanks for your reply.
A few years ago, I remember using an N26 account to receive payments from customers. A customer complained to N26 and they closed my account.
How to avoid such a situation?

 

[erni]

If you have your papers in order there should not be such a problem. The banks will not reverse a bank transfer unless fraud is committed.

 

[KScyprus]

If you have your papers in order there should not be such a problem. The banks will not reverse a bank transfer unless fraud is committed.

The papers are in order, but suppose the customer tells the bank that he doesn't like what he received, or that the shipment has been in transit for a month or that he feels scammed for whatever reason, how will the banks behave?

 

[JamesDonkey]

NO - if you get paid by bank transfer the money is yours and gone from the sender. In rare cases where fraud is committed the banks can try to get the money back, but in 99,9% it is not possible.

In that case, any payments received at one's Transferwise borderless account can't be reverted, returned or claimed by the sender?

 

[erni]

Usually the bank will refuse to enter into any discussions about that. If N26 engaged in such a discussion then they are unprofessional and not a bank / neobank some want to use.

 

[KScyprus]

Usually the bank will refuse to enter into any discussions about that. If N26 engaged in such a discussion then they are unprofessional and not a bank / neobank some want to use.

A thousand thanks. I'll do the wire transfer experiment then.

In that case, any payments received at one's Transferwise borderless account can't be reverted, returned or claimed by the sender?

If Wise receives complaints from your customers, it will freeze your account and refund all recently received payments. Personal experience.

 

[erni]

If Wise receives complaints from your customers, it will freeze your account and refund all recently received payments. Personal experience.

aha - I don't think so... if they do they are worse nothing. Would be an interesting topic to ask their live chat at Wise.

 

[chinthaphanti]

Uk banks are become very strict
its better to use Different Person Accounts