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chargebacks
noun
Plural of chargeback
Exact(20)
Nor is there immediate recourse for the reversal of transactions, as with credit-card chargebacks or bank refunds when one's identity has been stolen.
The best of them, the PNC agreement I had signed in 2005, was quite readable, once you got past how it looked, and it actually had useful advice about avoiding problems with customers and what to do to prevent chargebacks.
Apparently there tends to be a lot of damage in shipment and a lot of dissatisfaction even with products that arrive in one piece, which can lead to a lot of chargebacks (money returned to a customers when a transaction is disputed).
A spokeswoman for Bank of America said it was bound by Visa and MasterCard regulations on disputed chargebacks, and, if the merchant has the customer signature accepting a charge, there's not much more it can do.
Some businesses are more likely than others to provoke chargebacks.
Why? "We reviewed your account and determined that there's a relatively higher than average risk of future transaction issues (such as claims, or chargebacks, or payment reversals)," the e-mail said.
Similar(40)
LB, Pembrokeshire A. As your payment was made by credit card, we contacted the card issuer, HSBC, to request a chargeback for the full payment.
With a debit card you don't have that protection, but Visa and Mastercard do have chargeback schemes under which you may get your money back, so contact your bank.
My regular operating accounts had plenty of cash in case there was a chargeback.
In April, PayPal removed the $611 from my account as a "chargeback," stating that the buyer "asked the credit card company to reverse" payment for the computer because the purchase was "unauthorized".
After I tried to appeal this chargeback decision, I received an e-mail from PayPal on June 25 with this gem: "Despite our best efforts, the buyer's credit card company decided in favor of the buyer".
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