Chargeback (English. chargeback) – the process of bank disputing the card transaction, produced by the holder at the point of sale (online store). More often the procedure is initiated by the cardholder. But in some cases, the initiator may be a bank. For example, if the operation took place on a non-existent card.

The procedure is as follows. The cardholder submits a corresponding application to the issuing bank, which indicates the reason, why does he think the transaction is invalid or fraudulent, and encloses all the documents available for this operation (Checks, Account, Correspondence). Further, the credit organization conducts an investigation and, if the applicant is correct, writes off the protested amount of payment from the outlet and returns it to the payer, that is, the chargeback occurs at the expense of the outlet.

The reasons, by which it is possible to initiate a chargeback:

— the seller did not make a refund;

— the card was double debited;

— the operation was made in the amount, different from the purchase price;

— incorrect date and time of the operation;

— the signature on the card and on the invoice differ;

— money for the purchase was debited from the card, which the cardholder did not commit;

— money has been debited from the account, but the buyer has not received the product or service;

— the buyer is not satisfied with the product or service, for example, in fact, the product is different from, what was promised earlier by the seller, or the services were not provided in full;

— the customer has received a product or service, but paid in a different way (Cash, from another card, etc.. P.);

— the seller refused to accept the goods back.