The Cost Of Getting Your Money Back

Enlarge this image Elah Feder 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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