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| *Ostroff, Fair and Company>>>Credit |
Chargebacks? help!? |
what are the reasons for chargebacks? and how can i prevent them? In relation to credit cards being accepted by your business, chargebacks occur when the cardholder disputes the charges. You will get a notice from your service provider with the customer's name, amount, and reason for chargeback. You have a certain amount of time to verify the information to reverse the chargeback. Avoiding the initial chargeback is out of your hands, but you can take steps to help you have more reversed. Keep all your copies of the signed charge slips accesible. Make sure you check ID's of anyone using a credit card. If the card is taken over the phone for an item to be shipped, ship the item in a way that you will have a tracking number that can be used to verify delivery. Always respond in the amount of time allowed to dispute the chargeback. Are you a merchant? If a customer was charged twice, did not receive merchandise or did not get credit for a returned item (or another valid reason) and you did not credit their account within 30 days, their issuer may give the customer the credit on their account to get the money restored. This is called a chargeback. At my bank I could do one by typing just three letters and the line number of the charge in under a minute, but analyzing the case took longer. A merchant also has rights under credit card regulations and may issue a rebuttal after the initial chargeback, but the best way to avoid them is to maintain sound business practices in the first place and not force the customers to take action in frustration. Maintain good records, tracking numbers and getting proof of receipt are all part of doing business. former banker one reason we're all familiar with - whether you're a merchant or customer is.... -->>Non delivery of purchased item this occurs when a purchased item isn't delivered to the customer who has authorized the purchase. One way to prevent chargebacks of this kind is to always make sure the item has been shipped to the CORRECT PERSON at the correct delivery address with sufficient identification from the person you've delivered the item to, and keep receipts of delivery at all times. There are still a lot of reasons though - check out my source to know more. Hope I helped! http://www.freemerchantaccount.biz/getti... |
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