Remember that bank transfers are reversible but Bitcoin transactions aren't. But it won't anymore be on the platform when the buyer requests from his/her bank that the transaction be reversed. That's why you also need to be very careful in choosing who you deal with.
This one scares the hell out of me. I never thought of this ever since I engaged in P2P transactions. Wait a minute, can banks still be so careless in this present age to be reversing transactions anyhow unless they trust the integrity of the customer 100%?
I guess this can't happen in my country. Banks and financial institutions are now more clever not to honour such transactions without proper investigation, and if they must investigate, they must first contact the beneficiary bank, and from there, the transaction would be revealed by the beneficiary customer. Bank and Fintechs in my country are now warning when you want to send money that the transaction can't be reversed.
Technically, this has a meaning and no system will be so irreversible, but such is invariably serving as a warning and means that the reversal can't be automatically commanded without a review. This is even if you guys are using the same banks.
Bank reversals are more common, now more than ever, with online banking, credit and debit cards, online shopping, phishing scams through email and SMS and whatnot, other scams, double entry, and so on. It's going to be on a case-to-case basis. Some will be reversed, some not. Some easily reversed, some require you to submit documents and screenshots and other proofs. Banks have dispute officers and analysts for these requests. They're strict, of course, but it doesn't mean they're making the right decisions all the time.
What I know is that banks with millions of customers would be treating cases daily and the cases of the reversal can't be out of it and I know they can't be so careless at the same time judging by what is happening these days. If we take it backwards a bit, the reversal of transactions gained so much relevance when the fintech and these online financial services and payment gateways were newly started. But at a point, they suddenly started irreversible transactions, I believe they must have noticed the evil in it.
The same thing is applicable to the banks as well, they would have been privy to some cases where the claims of the customer were not true but were for fraudulent reasons. For this, I so much believe that it is lame for any bank to even dare that reversal without a thorough investigation of what transpired between the two parties. And until the other party gives a go-ahead for the reversal, they should not, otherwise, such banks could be sued if the money is huge and it becomes more problem for them. This is why these days, they thread carefully to avoid favouring a perpetrator. In addition, it is good to know the kind of financial institution we are dealing with.