Virtually all payments made via bank transfer are guaranteed to settle when a proof of payment has been received.
In exceptional circumstances, a user’s account may be flagged for fraud when they initiate a payment, in which case that payment may not fully settle. Stitch has not observed such cases on its platform, however, as they are able to verify the identity of the user initiating the transaction based on data from their linked accounts.
Unlike card payments, chargebacks are almost never made on payments made via bank transfer and require the user to place a written notice with their bank that takes upwards of 28 days to resolve.
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