Hello biz, can online bank transfers be reversed?
I am from uk and have a natwest account, I am selling a virtual item to someone from europe and they are going to do a bank transfer. Once the money is in my account can it be reversed by them?
Thank you, pic unrelated
>>1013442
No, ragnok. The funds will be yours forever, but your account may be suspended if he reports for fraud. Then you can look forward to legal actions.
>>1013447
Mmm, I see. But if he's transferring the money to me then that's his problem?
Or would he snitch me out for selling virtual item?
>>1013476
You can't get away with buying something then cancelling the fee bud
It's akin to writing a fraudulent cheque
>>1013442
>can online bank transfers be reversed?
Yes, all bank transfer transactions can be reversed. That's a hallmark of the modern banking system, to prevent fraud. (It's also part of the reason why bitcoin is failing: no mechanism to reverse a transaction for fraud.)
>>1014131
>(It's also part of the reason why bitcoin is failing: no mechanism to reverse a transaction for fraud.)
This is a major point.
No one wants to use bitcoin because if it gets stolen in some way there is no way of getting it back.
