Chargebacks - What are they?

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❓You may be wondering, “what’s a chargeback”?
A credit card chargeback occurs when a cardholder disputes a particular charge on his or her credit card statement to nullify the transaction. This means the customer is requesting the card-issuing bank to return the funds back to his or her bank account.
💳 Now, let’s break down how a chargeback actually works:
The cardholder contacts his or her card issuer/credit card provider to request a chargeback on a particular transaction.
The card-issuing bank pulls the transaction amount from the merchant’s account to credit the amount back to the cardholder’s bank account.
The merchant’s payment processor sends an alert to notify the merchant of the chargeback.
The merchant goes through their records to dispute or accept the chargeback.
If the merchant cannot procure sufficient evidence to dispute the chargeback, then the funds will not be returned to the merchant’s account.
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[@billwentz7339]

I would like to see how a "Cash ADVANCE" chargeback goes vs a refund and who accepts liability.

[@grassblock6964]

+CHARGEBACK

[@billwentz7339]

#1 cause of chargebacks is when the product or service does not live up to the vision: 'propaganda' given with the product or service. :)