Those who have lost their money to fraudulent companies can try to initiate a chargeback with the help of legal firms, but not all of them can be trusted. PayBack LTD specializes in recovering funds invested in fraudulent organizations, and judging by the reviews, the company is popular. However, it is not advisable to trust them too quickly, as it can easily turn out to be a scam and fake.
Brief Overview
- 🖥Official Website: payback-ltd.com, payback-ltd.ch
- ✈️Contact Address: Ha-Khilazon St 5, Ramat Gan, Israel, 5252269
- 📞Customer Support: +972-77-7408749, [email protected]
- 🔐Licensing and Accreditation: no
- ⏳Track Record: since 2017
- 🧰Specialization: chargeback
- 🤝Terms of Cooperation: 10% fixed fee in the beginning, 10% of successfully recovered funds
- 💰Additional Services: consultations
Payback-ltd.com Overview
The official website is template-based, as it resembles the resources of other companies in the chargeback industry. PayBack LTD describes the areas in which it operates, provides an FAQ, lists contacts, legal entity and address, and shares information about its founding date in 2017 along with other, less important information.
Of course, it cannot be called a terrible or unattractive site, but it also cannot be praised. The firm did not strive to create a quality resource, and it is worth noting the difficult navigation – there is a lot of information and sections, so users need to spend a lot of time to find the necessary data.
Company Contacts
PayBack LTD provides several phone numbers, indicating its global activities. Clients have access to phone numbers for Israel, the USA, Sweden, and Australia. Additionally, it is possible to contact employees via email and through online chat. Verification of all contacts revealed nothing suspicious. They are genuine, but how long it will take for the employees to respond is unknown.
The website also lists the legal entity Money Back Ltd, which operates as PayBack LTD. It is registered in Israel under number #515711653. Moreover, a check of official registries confirmed that this is true. In conclusion, the contact details did not show anything suspicious or dangerous.
Key Conditions
The terms of cooperation play an important role. The company must disclose information about its fees, for example, whether it charges a fixed fee for its services or works for a percentage of the refunded amount. In any case, the terms must be open and transparent so that the client knows in advance what to expect.
The organization charges two types of fees for its services:
- A prepayment of 10% of the amount that was lost, but not less than $1,500.
- 10% in case of a successful refund.
The duration of the process depends on a number of factors but usually lasts from 3 months to 1 year. PayBack LTD deals with frauds in the forex, binary options, cryptocurrency industry, credit card phishing, property, romance, stock, and other types of fraud.
Since the company operates under Israeli law, clients have the opportunity to get a refund for paid services within 14 days if they doubt the success and reliability of the firm. Although the company does not give a 100% guarantee of refund, it strongly implies this, as can be seen by reading the terms on the official website. It is worth adding that chargeback services are not allowed to promise a 100% money-back guarantee.
In addition, the organization does not disclose information about its employees. Who are these people, are they really professionals, do they have the necessary experience and education?
Exposing PayBack LTD
The company has been operating since 2017 – this is the founding date indicated on the official website. Moreover, since 2010 it has existed as a risk management company, but in 2017 it was reclassified to chargeback. It is interesting to consider what prompted them to change their type of activity. The registration date in 2017 is confirmed by official registries.
However, it does not appear that PayBack LTD cooperates with any major banks or payment systems. Additionally, the firm does not have ties with organizations such as OFAC, FATF, and others.
It also looks suspicious that the company works with cryptocurrency, promising to recover funds from crypto scams, which is almost impossible. No specific details are disclosed about how they handle such fraud. It is important to remember that if you send a transaction in cryptocurrency, it cannot be reversed. There is no centralized body that could cancel the transaction and return the funds; the blockchain is structured differently.
PayBack LTD’s malicious activities went so far as to have its website seized by the Federal Bureau of Investigation. However, the owners did not lose their temper and now their project operates on the domain https://payback-ltd.ch. Obviously, such a twist was foreseen in advance, as this domain was registered as early as April 21, 2022.
What Reviews Do Users Leave?
PayBack LTD has many positive reviews online, but it is not advisable to take them at face value. Why? Because such comments can easily be fabricated. The company might pay for fake positive reviews, so you can never trust them 100%. Real evidence is needed to prove that a client indeed used the services and received a refund. Moreover, negative reviews are also found, which cannot be ignored, as they often contain the whole truth about the company.
Conclusions
PayBack LTD may seem like a good option to try to recover funds, but one should not forget about the high risk involved. The victim lost money due to fraud but can also lose money due to the chargeback service. Is it worth taking such a risk? Although the company has many positive reviews, most of them are likely fake. Additionally, the company does not cooperate with serious regulatory bodies, major banks, and payment systems. It is not recommended to seek help from this company, as there are red flags and the risk is very high.
Pros/Cons
- The legal entity was registered in Israel in 2017.
- High fees.
- Huge risk.
- Official website only in English.
- Possibly buys positive reviews about itself.
Wow, that’s quite a large payment — 20% is a lot. And the terms are outrageous, up to a year. I agree, something seems off here.