Chargebacks
Q1
Chargebacks in summary:
A1
A1
- A chargeback is defined as a debit to the merchant's account from a previous sales transaction
- Chargeback's occur from errors made by the merchant in the compliance of their credit card transactions, non-authorized transactions and disputes from cardholders.
Q2
What happens when a Chargeback occurs?
A2
A2
- When the situation arises, Currency Systems will send to the merchant a 'Sales Draft Copy Request' which requests a copy of the credit receipt as proof that the cardholder allowed the transaction
- When you receive this notification, please respond in accordance to the timeframe noted on the communication received.
Q3
How does my business reduce chargebacks?
A3
A3
- Make sure all of your business files (ex. invoices, receipts, customer information address, telephone number, and e-mail) are organized in the event that proof of transaction is requested
- Please look at all suspicious orders in detail, touch base with the customer to confirm the request, then send out a confirmation email
- Bill the customer only for what they agreed to pay and make sure the customer is aware of the charge. Attain and authorization form from the customer, deliver the product, then charge the credit card
- Have a system to track previous chargebacks from your customers
- Make sure you Credit your customers' account immediately if they have returned products, are refunding services or debating a charge
- Identify how the transaction occurred on your authorization form
- Make sure delivery addresses are real and not a temporary address that can be compromised
- Authorize all transactions regardless of amount
- It is ideal to ship your merchandise with a known courier that can provide you with a tracking number and proof of delivery with a signature
Q4
How do I dispute a chargeback?
A4
A4
Please contact our help desk within 10 calendar days with supporting documentation