When the money left by card or from your bank account, your bank is the first place to go. It’s not always possible to reverse a payment, but the difference between success and failure often comes down to alerting the bank in time and in writing. This guide explains how to do it in the U.S.
Short answer
Call your bank or card issuer as soon as possible, explain that you were the victim of fraud, and ask them to reverse the charge. Then send a dispute letter to the billing inquiries address: for credit cards, the FTC says you must do this within 60 days after the first statement that shows the charge. Credit cards have more legal protection than debit cards.
First, call today
The FTC recommends reporting the fraud right away to your card issuer or bank, using the phone number on the back of your card or its official app, and asking for a refund. Write down the date, the time, the name of the person who helped you, and the case number.
Then, put the dispute in writing
The FTC publishes a sample letter for disputing charges. Its main points:
- Deadline: for credit cards, report the error within 60 days after the first statement showing the charge was sent to you.
- What to include: your name and account number, the amount and date of the charge, and a brief explanation of why you’re disputing it.
- Proof: copies, never originals, of receipts, chats, and any document that supports your claim.
- Address: the one your bank lists for disputes or billing errors, which is usually different from the payment address. If you can, use certified mail with a return receipt.
Credit and debit are not the same
The FTC explains that the law protects credit cards more than debit cards, although some debit card issuers voluntarily offer more protection than the law requires. Ask your bank what coverage your card has.
What to expect based on how you paid
| Payment method | What to do | How protected you are |
|---|---|---|
| Credit card | Call the issuer and send the dispute letter | The method with the most legal protection |
| Debit card | Call the bank and request a refund in writing | Less protection than credit |
| Zelle or bank transfer | Call the bank and ask it to reverse the payment | Limited if you authorized the payment |
| Venmo, Cash App, PayPal | Report it in the app and ask for a reversal | Limited if you authorized the payment |
| Wire (Western Union, MoneyGram, or bank) | Report it immediately and ask for cancellation | Depends on whether the funds have already been picked up |
| Cryptocurrency | Alert the exchange or the ATM operator | No legal protections like those for cards |
If you authorized the payment
This is the most common situation in investment scams: you made the transfer because you were deceived. Federal electronic payment rules require banks to reimburse certain types of erroneous or unauthorized transactions, but, as the OCC warns, most person-to-person payment systems offer no additional protection for payments you send. Even so, ask for a review in writing: some banks review these cases, and your claim is documented. If you paid by Zelle or wire, follow this specific guide.
If you bought cryptocurrency with your card
When the card was used to buy cryptocurrency on a legitimate exchange and you then sent it to the fraudulent platform, the card charge is for a purchase you did receive. That’s why these disputes are usually difficult. What helps in that case is reporting the destination addresses to the exchange and filing reports with the hashes for each transfer.
How to strengthen your claim
- An organized timeline of every payment, with its receipt. Use our evidence guide.
- Your IC3 and FTC report numbers. We explain where to report.
- Copies of the messages asking you for the payment and of the platform that showed you a fake balance.
- If the bank denies your claim, ask for the response and the reason in writing.
Watch out for calls from the “bank”
If someone calls claiming to be from your bank to “reverse” a payment and asks for passwords, codes, or for you to move money, hang up and call the official number yourself. Your bank will not ask you to transfer money to protect it.
Official sources
- FTC: what to do if you were scammed — what to do based on how you paid
- FTC: sample letter for disputing credit and debit card charges — 60-day deadline and what to include in the letter
- OCC · HelpWithMyBank: protect yourself from payment scams — person-to-person payments and Regulation E
Want to file your claim with your evidence organized? Request a free evaluation.
