I've never heard of any protection like this in the EU banking system. If you transfer money to a scammer it's simply gone.
It sucks for the 0,0001% of people who get scammed some time but is it really needed that the bank takes on this role?
It sucks for the 0,0001% of people who get scammed some time but is it really needed that the bank takes on this role?
The protections are part of the regulations.
A consumer can reverse a SEPA Direct Debit transaction at any time. This is called a chargeback. A chargeback is allowed up to 8 weeks after the date of the direct debit with a valid mandate and up to 13 months without a valid mandate. At most banks, the consumer does not have to give a reason for the reversal.
https://help.mollie.com/hc/en-us/articles/115000796469-How-d...