The Cost Of Getting Your Money Back : Planet Money Accidentally sending $1,500 to a stranger on Venmo reveals just how hard it is to get your money back in the new economy.

The Cost Of Getting Your Money Back

The Cost Of Getting Your Money Back

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Elah Feder
Accidental payment on Venmo
Elah Feder

If there's a mistake or a plain-old wrong transaction on your credit card statement, it's easy to fix. Just call your bank and have the transaction reversed. This is called a chargeback.

But then there's Venmo, an app for transferring money. It exists in a grey area between cash and card.

When one woman accidentally transferred $1,500 to the wrong person on Venmo, she found out the hard way just how tricky it can be to undo a payment. Today on the show, we investigate: When should we get our money back?

Music: "Me Gusta," "Mad Reggaeton" and "Addicted To You."

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