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How to get your money back after being scammed online
Fallen for an online scam? Don’t worry, we can help. Here’s how to get your money back after being scammed online.
Can I get my money back after an online scam?
Often, the answer is yes, you can. However, it can depend on a few factors, such as:
- How you paid
- How long it took you to spot and report the scam
- Whether you were at fault (e.g. you left your PIN lying around or didn’t take steps to protect your account)
So, let’s check out how to get your money back after being scammed online, starting with how you’ve paid.
You used a credit card
It’s easiest to recover your money if you paid by credit card.
- If the item(s) cost less than £100, contact your credit card provider and ask for a chargeback. They’ll ask the seller’s bank to refund the amount. Do this within four months of the disputed transaction.
- If the amount is between £100 and £30,000, section 75 of the Consumer Credit Act 1974 applies. Tell your provider you’re making a section 75 claim. You could get your full money back.
Under section 75, you’re covered whether it’s a domestic or foreign transaction.
You paid by debit card
Unfortunately, section 75 doesn’t cover debit card payments. But here’s what you can do.
- Contact the bank right away and ask for a chargeback.
- You can recover up to £100, but you must notify your bank within 120 days of the transaction.
- If you paid over £100, you can’t recover all your losses.
PayPal payments
If you don’t receive an item you paid for, or it’s different from the item the seller advertised, you might get your money back through PayPal’s Buyer Protection Scheme.
- Contact PayPal and tell them what’s happened. Do this within six months of the transaction.
- PayPal will investigate your claim and get your money back, where possible.
- If you’re unhappy with the outcome, and you paid through a credit or debit card, ask your bank about a chargeback instead.
Bank transfer
Made a bank transfer? Don’t panic. Many banks follow the Authorised Push Payment Scam Code, which means they should reimburse you if you’re tricked into making a bank transfer.
- Check whether your bank follows the Code.
- Contact your bank. Tell them how much money you sent, and the account you sent it to.
- If there’s still time, your bank can stop the transaction. Otherwise, they can issue a refund.
- It’s a good idea to contact the receiving bank, too. Sometimes, they can halt the transaction before the money reaches the fraudster’s account.
If your bank doesn’t follow the Code, you still need to contact them. There’s still a chance they’ll get your money back.
What if there’s a payment from my bank account I don’t recognise?
Getting your money back after being scammed online isn’t just about making payments. Sometimes, you might see transactions on your bank statement that you don’t recognise. This could be a completely unknown payment, or it could be that someone’s taken more money than you authorised. So, what can you do?
- Contact your bank immediately.
- Tell them you’ve spotted an unauthorised transaction.
- You’ll often get a refund from your bank, but there’s always the chance they’ll dispute the transaction and claim you’re responsible for it.
What if I can’t get my money back?
Although it’s disappointing, sometimes you can’t get your money back. But there are still a few things you can do.
- If you’re unhappy with the outcome, or you don’t get a response within eight weeks, contact the Financial Ombudsman. They’ll assess your complaint and decide whether you should get your money back or not.
- Feeling overwhelmed about what happened? There are helplines you can contact for support.
Can I avoid online scams?
So, we’ve explored how to get your money back after being scammed online. But how do you avoid falling for scams in the future? Try following these simple tips.
- Never give your PIN or full password to anyone. Even the police won’t ask you for this information.
- If you need to contact your bank, use the phone number on the back of your card.
- Received an unexpected email or text? Don’t click on the links. Contact your bank or credit card provider directly to ensure it’s genuine.
- Use strong passwords, and change them regularly.
How to get your money back after being scammed online
The good news is that you can often get your money back if you’ve been scammed online.
To maximise your chances of recovery, report the scam as soon you discover it. And remember, you can always contact Action Fraud or Citizens Advice if you need more help avoiding online scams.
