diff --git a/CRM/Admin/Form/Setting/BankingSettings.php b/CRM/Admin/Form/Setting/BankingSettings.php
index 647d73cb..ac51f382 100644
--- a/CRM/Admin/Form/Setting/BankingSettings.php
+++ b/CRM/Admin/Form/Setting/BankingSettings.php
@@ -117,6 +117,13 @@ public function buildQuickForm() {
       'positiveInteger'
     );
 
+    // allow status reset on transactions
+    $this->add(
+      'checkbox',
+      'allow_trx_reset',
+      E::ts("Allow status reset on ignored transactions"),
+      '');
+
     // store bank accounts
     $this->add(
       'checkbox',
@@ -187,6 +194,7 @@ public function setDefaultValues() {
     $defaults['banking_log_level']               = Civi::settings()->get('banking_log_level');
     $defaults['banking_log_file']                = Civi::settings()->get('banking_log_file');
     $defaults[CRM_Banking_Config::SETTING_MAX_CONTACTS_ON_LOOKUP] = CRM_Banking_Config::getMaxContactsOnLookup();
+    $defaults['allow_trx_reset']                 = Civi::settings()->get('allow_trx_reset');
     $defaults['reference_store_disabled']        = Civi::settings()->get('reference_store_disabled');
     $defaults['reference_normalisation']         = Civi::settings()->get('reference_normalisation');
     $defaults['recently_completed_cutoff']       = Civi::settings()->get('recently_completed_cutoff');
@@ -222,6 +230,9 @@ public function postProcess(): void {
       CRM_Core_BAO_Navigation::resetNavigation();
     }
 
+    // allow trx status reset
+    Civi::settings()->set('allow_trx_reset', !empty($values['allow_trx_reset']));
+
     // process menu entry
     Civi::settings()->set('json_editor_mode', $values['json_editor_mode']);
 
diff --git a/CRM/Banking/Page/Review.php b/CRM/Banking/Page/Review.php
index fdb8420a..c3f1e20e 100755
--- a/CRM/Banking/Page/Review.php
+++ b/CRM/Banking/Page/Review.php
@@ -101,6 +101,9 @@ public function run() {
       }
     }
 
+      $allow_trx_reset = CRM_Core_BAO_Setting::getItem('CiviBanking', 'allow_trx_reset');
+      $this->assign('allow_trx_reset', $allow_trx_reset);
+
     // parse structured data
     $this->assign('btxstatus', $choices[$btx_bao->status_id]);
     $this->assign('payment', $btx_bao);
diff --git a/api/v3/BankingTransaction.php b/api/v3/BankingTransaction.php
index edfbcae3..648c7b94 100755
--- a/api/v3/BankingTransaction.php
+++ b/api/v3/BankingTransaction.php
@@ -23,6 +23,40 @@
  *
  */
 
+/**
+ * Adjust Metadata for Reset action
+ *
+ * The metadata is used for setting defaults, documentation & validation
+ * @param array $params array or parameters determined by getfields
+ */
+function _civicrm_api3_banking_transaction_reset_spec(&$params) {
+  $params['trx_id'] = array(
+    'title'       => 'Transaction ID',
+    'description' => 'The transaction ID to perform the status reset',
+    'required'    => TRUE,
+    'type'        => CRM_Utils_Type::T_INT,
+  );
+}
+
+/**
+ * civicrm_api3_banking_transaction_reset
+ * Resets a transaction's status into the status NEW
+ * Will also remove any suggestions stored into this transaction
+ *
+ * @param  mixed $params
+ * @return void
+ */
+function civicrm_api3_banking_transaction_reset($params) {
+  // update the transaction
+  if (is_numeric($params['trx_id'])) {
+    // Get the status ID for new (not-analysed transaction)
+    $status_id_new = (int) banking_helper_optionvalueid_by_groupname_and_name('civicrm_banking.bank_tx_status', 'new');
+    CRM_Core_DAO::executeQuery("UPDATE `civicrm_bank_tx` SET `status_id` = ({$status_id_new}), suggestions = NULL WHERE `id` = '{$params['trx_id']}'");
+    return civicrm_api3_create_success('Status reset complete');
+  }
+
+}
+
 /**
  * Add an BankingTransaction for a contact
  *
diff --git a/templates/CRM/Admin/Form/Setting/BankingSettings.tpl b/templates/CRM/Admin/Form/Setting/BankingSettings.tpl
index d632b69f..a01d3af8 100644
--- a/templates/CRM/Admin/Form/Setting/BankingSettings.tpl
+++ b/templates/CRM/Admin/Form/Setting/BankingSettings.tpl
@@ -57,6 +57,12 @@
   <div class="clear"></div>
 </div>
 
+<div class="crm-section">
+  <div class="label">{$form.allow_trx_reset.label}</div>
+  <div class="content">{$form.allow_trx_reset.html}</div>
+  <div class="clear"></div>
+</div>
+
 <br/>
 <h3>{ts domain='org.project60.banking'}Bank Account Settings{/ts}</h3>
 
diff --git a/templates/CRM/Banking/Page/Review.tpl b/templates/CRM/Banking/Page/Review.tpl
index 0bc42fb6..3751a651 100755
--- a/templates/CRM/Banking/Page/Review.tpl
+++ b/templates/CRM/Banking/Page/Review.tpl
@@ -14,6 +14,17 @@
 +--------------------------------------------------------*}
 {* This page is generated by CRM/Banking/Page/Review.php *}
 
+  {assign var="resetLink" value=""}
+
+  {if $btxstatus.label eq 'Ignored'}
+    {if $allow_trx_reset}
+      <!-- Check the form configuration button -->
+      {capture name="resetLink" assign="resetLink"}
+        <a href="#" class="button" onclick="resetPayment()"><span title="{ts domain='org.project60.banking'}Reset status{/ts}"><div class="icon next-icon ui-icon-cancel"></div>{ts domain='org.project60.banking'}Reset status{/ts}</span></a>
+      {/capture}
+    {/if}
+  {/if}
+
   <div id="btx">
     {foreach from=$summary_blocks item=block}
       {$block}
@@ -51,14 +62,17 @@
       {/if}
     {/if}
     {if $new_ui_enabled && $back_to_statement_lines}
+      {$resetLink}
       <a href="{$url_back}" class="button" style="float:right;">
         <span title="{ts escape='htmlattribute' domain='org.project60.banking'}Back{/ts}"><div class="icon back-icon ui-icon-arrowreturnthick-1-w"></div>{ts domain='org.project60.banking'}Back to statement lines{/ts}</span>
       </a>
     {elseif $new_ui_enabled && !$back_to_statement_lines}
+      {$resetLink}
       <a href="{$url_back}" class="button" style="float:right;">
         <span title="{ts escape='htmlattribute' domain='org.project60.banking'}Back{/ts}"><div class="icon back-icon ui-icon-arrowreturnthick-1-w"></div>{ts domain='org.project60.banking'}Back to statements{/ts}</span>
       </a>
     {else}
+      {$resetLink}
       <a href="{$url_back}" class="button" style="float:right;">
         <span title="{ts escape='htmlattribute' domain='org.project60.banking'}Back{/ts}"><div class="icon back-icon ui-icon-arrowreturnthick-1-w"></div>{ts domain='org.project60.banking'}Back to transaction list{/ts}</span>
       </a>
@@ -188,6 +202,57 @@ function analysePayment() {
   );
 }
 
+/**
+ * Resets a transaction into the status "New"
+ */
+function resetPayment() {
+  const response = confirm('{/literal}{ts domain='org.project60.banking'}The analysis of this transaction will be reset into its initial state and all saved suggestions will be reset. Are you sure you want to do that?{/ts}{literal}');
+  if (!response) {
+    return;
+  }
+
+  var reload_regex = new RegExp("(execute=)[0-9]+", 'ig');
+
+  // disable ALL buttons
+  cj(".button").addClass('disabled');
+  cj(".button").attr("onclick","");
+
+  // remove old suggestions
+  cj(".suggestions").remove();
+  cj("#generating_suggestions").show();
+
+  // show busy indicator
+
+  // AJAX call the analyser
+  var query = {'q': 'civicrm/ajax/rest', 'sequential': 1};
+  // set the list or s_list parameter depending on the page mode
+  query['trx_id'] = "{/literal}{$payment->id}{literal}";
+  console.log(query);
+  CRM.api('BankingTransaction', 'reset', query,
+    {success: function(data) {
+        if (!data['is_error']) {
+          // remove 'execute' bit from URL before reload
+          var newURL = window.location.href.replace(reload_regex, '');
+          if (window.location.href == newURL) {
+            window.location.reload(false);
+          } else {
+            window.location = newURL;
+          }
+        } else {
+          cj('<div title="{/literal}{ts domain='org.project60.banking'}Error{/ts}{literal}"><span class="ui-icon ui-icon-alert" style="float:left;"></span>' + data['error_message'] + '</div>').dialog({
+            modal: true,
+            buttons: {
+              Ok: function() {
+                window.location = window.location.href.replace(reload_regex, '');
+              }
+            }
+          });
+        }
+      }
+    }
+  );
+}
+
 /**
  * common function to bring CiviCRM 4.5+ popups into the game
  */