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

You can reverse transactions on a debit card but it takes longer.

With a credit card you’re effectively loaning money from a bank to pay for stuff. So when you file a charge back to your credit company they can just add the balance back into your account and deal with it on their end.

With a bank transfer it’s *your actual money* so you can’t actually see the number go back up until the money has been moved back into your account.