What Is A Chargeback?

• A chargeback is an attempt by a consumer to reverse the charge of a sale.  By understanding chargebacks, you can potentially save money and retain customers.
• Prior to a chargeback, a cardholder or their bank issues a retrieval request to obtain a copy of the receipt to verify a sale.  If the receipt is not received promptly, it could result in a chargeback.
• Consumers could ask for a refund if they did not receive what they expected, if the goods were never purchased, or if they never received the goods.
• The issuing bank of the cardholder has an obligation to investigate complaints from their cardholders.  

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