Unethical users order items, get exactly what they intended to buy, yet still issue chargebacks for "free" money. If merchants are slammed with too many frivolous chargebacks, they'll either shut down or simply stop accepting credit cards–a lose-lose-lose situation for everyone.Īnd unfortunately, abuse is not uncommon. They want to keep customers happy, but they also want to keep merchants happy. The bank will investigate the request to see if it's legitimate.īanks know that consumers can abuse chargebacks. Just because you request a chargeback doesn't mean you'll get it. Who cares about refund policies when you have chargebacks? Often times related to digital identity theft.Įverything sounds great so far, doesn't it? Now you can go out and pay for whatever you want, while resting in the knowledge that you can always request a chargeback if you're even the tiniest bit unhappy. This is when an unauthorized user charges something to your card without your knowledge or consent. This is when the merchant acknowledges a refund request but never actually processes the refund. For example, buying an item marked "New" that is obviously used when it arrives. This is when you pay for an item, but it arrives in a state that is not to your satisfaction. This is when you pay for an item, but it arrives in a damaged, not working, or otherwise deficient state. This is when you pay for an item that does not arrive within a reasonable anticipated time frame, whether due to fulfillment issues, shipping delays, or anything else. This is when you pay for a service that is misrepresented by the merchant, and you feel that you have been deceived. Here are the most common and acceptable reasons for a chargeback: That's the theory, at least, and when this happens, it's often in your favor. Banks don't want to waste their time playing referee between consumers and merchants, so they usually stay out of the way and prefer that you work out a solution directly with the merchant.īut when the merchant doesn't abide by certain rules set forth by the bank (which the merchant must agree to in order to accept credit card payments), the bank will step in and take matters into its own hands. The chargeback exists to protect consumers.
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