Guide to Fund Recovery
Most of the time, our financial transactions go through without errors or complications. However, occasionally something may go wrong and fund recovery may be necessary. On some occasions, consumers may notice an error in their credit card balance or an unauthorised charge, and in this case, merchants or banks are often quick to fix the problem.
More complex situations can arise. For instance, a customer may not be happy with an item they ordered from an eCommerce site because it is the wrong size or color. The merchant may not agree to a credit card chargeback and a dispute may arise. In other cases, people may feel that they have been the target of mis-sold investments from brokers who refuse to communicate or disappear.
All of these scenarios require fund recovery. Along with the increase in online transitions, the number of complaints and chargeback requests has increased. Therefore, it is essential to seek the aid of a financial company that provides fund recovery services. Using fund recovery services can bolster your case with banks, credit card companies, and regulators.
FundRecovery UK will prepare your case and be your advocate. Our professionals have expertise and strategies that will improve our chances of getting your funds back. We consult with clients, assist them with intelligence reports and negotiate with banks and other institutions. Ask us about chargebacks, wire recalls intelligence reports, and crypto recovery.
When Do You Need Fund Recovery?
Too many consumers decide not to take action when they have lost money. They may assume they have little chance of success with fund recovery or they could be concerned about bureaucracy or that they will spend more time than it is worth pursuing their claims. However, financial services like FundRecover UK can attest to the fact that many claims result in a partial or complete return of funds if they are presented properly.
The following is a partial list of circumstances that may call for fund recovery services:
- Unauthorised Charges
- Bank or Merchant Errors
- Merchant or Broker Disputes
- Mis-Sold Investments
Many of us have now and again noticed incorrect charges on our credit card statements or bank accounts. These can be for small or large amounts, but regardless of the amount, the issue should be raised. In the case of an incorrect bank statement, it is usually an honest error that can be sorted out by bringing it to the bank’s attention with supporting documents.
However, if you notice that a merchant has charged you twice for something or has continued to charge you for a subscription you have cancelled, it is important to mention it. Most of the time, merchants will clear up the error and refund money, but in some cases, disagreement over these charges can lead to a dispute.
Sometimes the unauthorised charges are due to a third party seizing your credit card information and using it without authorization. If this is the case, customers can report this as fraud to issuing banks and can receive a chargeback. The chargeback or wire recall process is also used as a way to resolve disputes that can arise over many different kinds of issues. The customer may not be happy with a purchase, it may not have arrived or it could be damaged. They may not be satisfied with a service or even feel that the merchant or broker is being dishonest, as in the case of forex scams.
The claimant may be a victim of mis-sold investments, which are any investments that are not intended to further the interests of the customer. The term mis-sold implies that, although the customer authorized the purchase, they did so under false pretenses and what they received was not consistent with what a client should expect.
Examples of mis-sold investments are undervalued assets brokers want to unload on clients so they can sell them once they have risen in value. Ponzi schemes and crypto scams are other examples of mis-sold investment. The asset may have no value or there may be no actual trading going on at all.
What all types of mis-sold investments have in common is that they always involve bad intent and are not due to negligence or an error. Also, they are unlike disputes, because a dispute implies that the other party is acting in good faith but they and the customer merely disagree.
Types of Fund Recovery Services
- Credit Card Chargebacks
- Bank Wire Recalls
- Paypal Chargebacks
- Crypto Recovery from the Blockchain
When a customer wants to get their money back, there is a selection of services available. Credit card chargebacks are a reversal of charges onto a credit card. This is done in the case of proven fraud or as a resolution of a dispute in the customer’s favor. The issuing bank is the final arbiter that decides whether the chargeback will be granted or not.
Wire recalls are the cancellation or reversal of a bank wire transfer. Transactions can only be recalled if they are incomplete. Once the money has arrived in the recipient’s account, the customer will need a refund in a separate transaction and may have to initiate a dispute or claim.
The Fund Recovery Process
The fund recovery process begins with a consultation with a financial services company. Once the company evaluates the initial claim, it will determine whether there is a significant chance of successful fund recovery. If the claim is accepted it will go forward and the fund recovery service gathers information, drafts an intelligence report, and negotiates with banks and regulators on behalf of the client.
Consult with Fund Recovery UK if you are trying to retrieve your funds. Consult with us and we will map out a strategy with effective tools and methods for fund recovery. Our professionals have a strong working relationship with banks and regulators and understand how to make a claim persuasive and successful.
