how come credit card bills can be refunded, i.e if you get scammed the credit card company can reverse the transaction but a bank transaction cannot be reversed?

Question

how come credit card bills can be refunded, i.e if you get scammed the credit card company can reverse the transaction but a bank transaction cannot be reversed?

In: 154

Answer 1

When you chargeback on credit card, the merchant where the card was used gets debited by the bank plus there is a small fine added. Its the merchant’s sole responsibility to prove that “you” made the transaction to avoid this. For merchants, this is risk of doing business when accepting credit cards.