What is a chargeback?
- A chargeback is the return of funds to a customer, forcibly initiated by the issuing bank of the instrument used by a customer to settle a debt. Specifically, it is the reversal of a prior outbound transfer of funds from a consumer's bank account, line of credit, or credit card.
Are there policies and procedures you can implement that will help to prevent chargebacks?
What do I do if I receive a chargeback notice?