Bank Transfers

marlewuk

i thought once the funds have reached the recipient, it couldnt be reversed. If there was a dispute - they would need op consent to take the funds back but he should have some sort of proof of sale to contest any comebacks

JuicyJesus

marlewuk wrote: »

i thought once the funds have reached the recipient, it couldnt be reversed. If there was a dispute - they would need op consent to take the funds back but he should have some sort of proof of sale to contest any comebacks

This is correct. The only time a payment can be reversed is in case of clear bank error or fraud (i.e. the funds were sent to you from a hacked bank account), however that applies even if you have proof of sale; you have no entitlement to the proceeds of crime, regardless of if you accepted them for goods. Mr Bitcoin in the thread linked above found this out the hard way.

As noted though this risk is incredibly slim, can be avoided quite trivially and simply will never apply to most people. Mr Bitcoin got burned because he was doing business with someone completely anonymous in exchange for equally anonymous goods without doing any sort of due diligence.