At T&H Consulting, we are experts in transactions that involve payments with debit and credit cards. The variety and complexity of the situations in which people lose money due to scams in which card transactions are present are exhaustive. Visa and MasterCard, the major card issuers, have specific rules of operation that financial institutions using their cards must comply with. As a customer, you have established rights that must be respected, but in order to for your rights to be respected, you need to properly understand them and how the chargeback process is conducted.
When the dispute leads to a positive result, a transfer is made by the issuing bank to the customer, the amount of which will be debited from the involved merchant and returned to the payer. In simple terms, it is the reversal of a credit or debit card payment that comes directly from the bank and operates under the rules of the card issuer, be it VISA or MasterCard.
The process is as follows:
- The cardholder files a chargeback/A dissatisfied customer contacts the bank/issuer and asks for a refund.
- The issuer reviews and assigns a code to the case. These codes explain the reasons behind the issuing of a dispute (for example: “goods or services not as described”). Each code also comes with its own set of rules and conditions (filing time limits, necessary documentation, etc…)
- The issuer investigates and takes action. At this point, the issuer should fully investigate the cardholder’s chargeback claim, and make sure that all the regulations have been adhered to and that the complaint has merit. If the cardholder has a valid claim, the funds will be removed from the merchant’s bank account and credited to the cardholders. Notification of the chargeback will be sent to the merchant’s bank. (If the cardholder does not have a valid claim, the chargeback will simply be null and void.)
- The acquirer reviews the chargeback and takes action. The credit card networks (Visa, Mastercard) have created various merchant’s rights, including the right to dispute an illegitimate chargeback. If inaccurate claims are made, the merchant can try to regain profits that were fraudulently removed.
Our team is well versed and highly experienced in this process and can assist you with raising a chargeback dispute with the bank in question. Remember, a chargeback is not just a single event, it is a process, and one that can be lengthy and convoluted for all parties involved. For the same reason, it is important to have a clear and proper understanding of how to do it, as a single wrong word could be disruptive to the whole process.
At T&H our fundamental purpose is to give you the best attention and quality of service. As such, you can always discuss your needs and concerns with our agents, who will be more than happy to listen to and assist you.
The Client hereby agrees to engage the Consultant to provide the Client with the following consulting services under the Chargeback Processing Consultation:
- Pre-Consultation Assessment – the pre-consultation questionnaire (KYC form) that the client must fill prior to assessment/consultation along with a client’s information form which will be used for consultation.
- 45 minutes of consultation with our specialist.
The Services will also include any other consulting tasks which the Parties may agree on. The Consultant hereby agrees to provide such Services to the Client.
One-time payment – 189 GBP.