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PayBack Ltd. is a fund recovery company that focuses on assisting consumers who have lost money to forex trading scams, crypto scams, and binary options fraud. It consults with clients, drafts fund recovery reviews, and negotiates with banks and authorities to help return funds to clients. PayBack Ltd. provides services similar to other companies in the industry, but is it the right choice for you?
Fund Recall experts have examined PayBack Ltd. and have created a review of its services. Our team of professionals has extensive experience in the area of fund recovery and examining scams as well as legitimate companies and services. We consult with clients who have lost their funds to frauds or as the result of broker disputes and use our expertise and skill to provide fund recovery services.
PayBack Ltd.’s main office is in Israel, and it has telephone numbers in the US, UK, Australia, and Ireland. It describes its staff as “a team composed of skilled experts and professionals” and “legitimate field specialists.”
According to the website, PayBack Ltd focuses on helping customers recover from forex trading scams, binary options fraud, and cryptocurrency scams. On the site, PayBack Ltd. says that it has recovered $1,074,178 from clients. However, there is no information on the site regarding how long it has been in operation or any press information about the service.
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PayBack Ltd’s website indicates that it offers the following services:
The site provides an overview of these services.
PayBack Ltd assists clients with fund recovery from unregulated and regulated brokers and trading scams. It focuses on wealth recovery or people who have lost their savings to unscrupulous brokers as well as those who have had their cryptocurrency stolen in crypto scams.
They outline their process as involving an initial consultation with the client to determine what occurred and providing an overview of the process. According to the site, PayBack says it will not take a case that it doesn’t feel it can win. The procedure for pursuing fund recovery for clients involves, according to the site, “disputes, along with digital fingerprints track downs, analysis of cyber transactions, and an in-depth investigation.”
The company describes the process of pursuing its cases as dealing directly with banks rather than merchants, which is usually the case when dealing with chargebacks. The credit card company is often not the one who decides when refunds are given, but the issuing bank that issues the credit card makes the final decision in a dispute between a merchant and a customer.
PayBack, in other words, acts as a kind of advocate in the negotiation with banks to get a wire recall or a credit card chargeback. This is in line with what other fund recovery companies do for clients. It is notable that PayBack lists the amount it says it has recovered as $1,074,178, although it is hard to evaluate its success without the total number of clients and length of time it has been in operation.
There are some unclear points PayBack makes on its site. For instance, it describes binary options and forex trading scams and claims “to have already handled millions of victims around the globe,” yet its total recovered is just $1,074,178. However, PayBack did claim to have recovered a total of $300,000 in one month which, if true, is impressive.
It describes, although without specific detail, its basic process without guaranteeing fund recovery or a certain outcome. It should be noted that no fund recovery service can promise that all funds will be returned to the client.
It should also be noted that PayBack emphasizes its crypto services. This is a common problem and a notoriously complex one to resolve. Many scams demand to be paid in cryptocurrency because transactions are anonymous and hard to trace. However, it is hard to confirm PayBack Ltd’s success in the area of tracking down crypto crime based on the information on the site.
It is important to consider that PayBack Ltd. has been flagged by the FSMA on suspicion of being a recovery room scam. This is a service that claims to retrieve money for customers when it actually runs away with the fees and simply says the case can’t be solved.
The FSMA or the Financial Services Markets Authority of Belgium has specifically named Payback along with six other recovery room scams. This should raise concern among anyone who is thinking of using their services.
PayBack has many positive reviews on Trustpilot, most of which are five stars. Only one review alleges PayBack is a scam that stole their money. It is concerning when a service receives extremely positive or negative reviews because it indicates the customer reviews are probably not genuine and may either be generated by competitors or at the request of the company.
PayBack Ltd may be as good a service as the reviews seem to indicate. However, the fact that there is one really bad review and the rest are five out of five stars may justify skepticism regarding the authenticity of all of the reviews. However, there was nothing in the reviews that would cause any alarm or that seemed patently false.
After examining payBack Ltd. we determined that consumers should hesitate before using PayBack Ltd. or any fund recovery service. PayBack Ltd. offers services consistent with the industry and has many good reviews, and yet it is hard to validate the claims on the site without concrete data or to be sure that the reviews were authentic.
In addition, the service has been flagged by the FSMA as a suspected scam. there were inconsistencies on the website as well as hyperbole, including the claim of having “millions” of customers. No fund recovery service can serve millions of customers as fast-food restaurants can.
A good alternative is Fund Recall, which provides fund recovery services such as chargebacks and also creates intelligence reports that empower clients to approach authorities with their claims. Our team also gives clients resources such as in-depth reviews that help them make the right financial decisions. We assist fund recovery from bitcoin scams, forex trading scams, CFD scams, and broker fraud.
If you have a dispute with a merchant and are seeking a chargeback, don’t give up hope of getting your money back. Our experts are well-versed in the negotiation process and have the contacts and the arguments that will succeed in retrieving your funds.
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