What is a Chargeback?
A chargeback occurs when a client claims they did not approve a charge, are not aware of it or it's fraud. This is very rare but can happen. The disputed charged amount will be refunded to you if you win a dispute, but the chargeback fee ($20) is a nonrefundable fee. Reduce a chance of chargeback by sending receipts.
How do I refute a Chargeback?
We will help refute the chargeback on your behalf with any supporting documents you can provide. Please send the information to refute the chargeback to firstname.lastname@example.org. The following documents must be submitted no later than 9 days from the date of our notification to you.
1. Copies of signed credit card processing agreements, no show and cancelation policy, invoices, service agreement, order forms, and/or any item with the cardholder's signature. Please do not send originals.
2. A written and signed rebuttal letter supporting your case and refuting the reason for the chargeback. We will use the documents you provide to re-present the chargeback to the card-issuing bank. The card issuer will then decide to either let the chargeback stand or reverse the money back to your account.
All documents should be submitted to the following email address: Vantagecard@theranest.com
Follow up: Win or lose
Card brand regulations allow up to 60 days for this process.
We will notify you via email of the outcome. We recommend contacting the cardholder in attempt to resolve any questions they may have about the charge. If you are able to determine that the chargeback was issued in error, please have the cardholder notify the card-issuer that the chargeback was in error and that the transaction should be honored. Please be aware that having your customer contact the bank will help the process, but will not resolve the chargeback.
Additional notes about Chargebacks:
Chargebacks reflect negatively on merchant accounts. If too many chargebacks are issued against your account, penalties could be imposed, and/or the account could be closed.
Excessive chargebacks are defined as any merchant account with a chargeback to successful transaction ratio of over 1%.
As required by the card brand regulations as part of the chargeback process, the amount of the transaction has been deducted from your account and given back to the cardholder as a conditional credit.
You can use the your credit card charges report. From within your TheraNest account, go to Reports > Billing > Credit Card Charges to verify the transaction details we provide upon notification of an issued chargeback
*Do not issue a refund to the cardholder because credit has already been issued through the chargeback process.
*Do not send full card details in your information to refute the chargeback.