BankingTech FinTech

[Discussion] Chase “REVERSAL” refund meaning?

July 27, 2020 at 09:55AM

Hi guys, I have a checkings account and I have little to no knowledge about banks. I had returned an item to ebay and issued a refund from my seller. I received an email that I got refunded and it should process within 48 hours. I also issued a dispute at Chase that I was needing a refund. I received the exact amount of money that I needed from Chase, then I was sent a letter from Chase saying that they gave me a temporary credit for that refund and they will do their research and if my transaction was correct, they would reverse it. A few hours after I filed a dispute, in my account it says “REVERSAL: ebay transaction and then the total amount of money for that refund.” I contacted the seller, and the seller said that they already refunded the amount. I’m not sure if Chase paid me temporarily to cover the charge or the refund from the seller went through. If Chase gave me temporary money for that refund, and if the refund of the seller goes through, what will happen? Should I be worried about this? I am wondering what that word REVERSAL means? I’m confused.. can someone provide some insights into this? Thank you in advance!

submitted by /u/danijallin
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