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  /  LifeStyle   /  Career   /  If You Lose Money To An Online Vendor, Here Is How To Recover It

If You Lose Money To An Online Vendor, Here Is How To Recover It

If you are a victim of an online business, this article will give you steps on how to recover your money.

 

With the exponential growth of social media users, many took advantage of the wide audience reach and started online businesses. Needless to say, it has already become a booming market place.

 

Users can now buy and sell without having to leave their homes unless to deliver or pickup. However, this convenience may have become an avenue for some con artists to exploit.

 

Usually, you could visit a shop or mall where you purchased an item to lodge complaints. But with online vendors and businesses, all you could do was to keep sending messages. Some can even go as far as announcing it publicly but most times, the damage is already done.

 

Sometimes, the vendor stops giving excuses and starts to ignore you. This can be painful.

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However, you can recover your lost funds. We found some effective steps that you can take when you are duped by online business on Nairaland Forum.

How to recover money from an online vendor

how to recover your money from online vendors

Facebook stores are popular shopping locations online. Photo: TrendEbook.

  1. First, ensure you screenshot the chats whether they are on Instagram, WhatsApp, Facebook or Twitter.
  2. Print them out and make photocopies as well.
  3. Next, write out the full details of the account you transferred the money to. This includes the full name and account number.
  4. Also, write down the Transaction ID number on the debit alert sent by your bank.
  5. Attach all the documents together and remember to have copies as well.
  6. Armed with this, you should visit any branch of the vendor’s or business’ bank.
  7. Ask to see the customer care agents and specifically indicate that you want the person in charge of fraud.
  8. Then you are to make your complaints and submit the documents.
  9. Also, to ensure the bank is not slow to fix the problem, send a complaint email to them and copy the CBN Fraud desk (anticorruptionunit@cenbank.org).

Now, you have done your part and the bank will have to do theirs. You should expect that the concerned bank will likely freeze the account of the suspect and prevent withdrawals and transfers.

 

When the vendor visits the bank, the police will be invited as well. Then if they prove that he/she is guilty, they will ensure he/she signs a waiver document. This will authorise the bank to send back your money.

 

So, if you lose money to an online business, here is how to recover your lost funds. But you will have to act quickly to checkmate the culprits.

 

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A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.

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Grace Ekigho

Good suggestions but am not sure it will work,this is Nigeria where people like bribe before they do anything for you.