When a customer disputes a bank transfer transaction, Monnify's Fraud Team manages the process on your behalf; investigating the claim and working to protect your revenue.

To understand disputes related to card transactions, see Understanding Card Disputes and Chargebacks

How it works

Bank transfer disputes follow a structured process:

1. Notification: The Monnify Fraud Team receives the dispute and notifies you via all available email addresses on your account. This may include your merchant email, support email, and chargeback email. A clear explanation of the dispute reason, the evidence required, and your response deadline will be included.
2. Review: Once you submit your evidence, our team reviews it and determines the most effective way to resolve the claim.
3. Execution: We handle the final financial outcome, whether that means securing your revenue or processing the reversal.

Note: For bank transfer disputes, the outcome may be referred to as a refund, reversal, or recall, depending on the circumstances. Unlike card disputes, the final ruling is made by Monnify internally.

How to respond to a bank transfer dispute

When a bank transfer dispute is raised, you have two options:

1. Accept the dispute: If the customer did not receive value or service for the transaction, respond to the dispute email stating your acceptance. Your account will be debited immediately.
2. Contest the dispute: If you have evidence that the customer received value or service, respond before the deadline with your supporting documentation. If your evidence is accepted, the dispute is resolved in your favour and you will not be debited.

What evidence should you submit?

The evidence required depends on your business type. For example:

1. Lending platforms: Proof of loan disbursement to the customer and a copy of the loan contract or agreement.
2. Physical goods: Signed waybills, delivery confirmations, or dispatch logs tied to the transaction.
3. Digital services: System logs showing the customer accessed your platform or used the service, linked directly to the transaction.

When in doubt, provide as much documentation as possible that clearly demonstrates the customer received value for the transaction.

Response deadline and consequences

We encourage merchants to respond within 24 to 72 hours of notification. If a merchant does not respond within the deadline, here are the possible consequences:

1. No court order: When a merchant remains unresponsive and no court order has been filed by the complainant, Monnify places a lien on the merchant’s wallet for the disputed amount, pending receipt of a valid court order.
2. Court order received: Where a verified court order has already been received and the merchant remains unresponsive after the deadline, the Monnify Settlement Team debits the merchant’s wallet in compliance with the court order.