Chargeback – How to get money back after paying via a Bank Card
If our money went to criminals or bad people via a credit card, there is a chance to get our money back. This is called a “Chargeback Procedure”. We describe what you should do to get your money back in a few simple steps.
When are we entitled to “Chargeback”?
In many cases, but for obvious reasons, Banks do not brag about providing this service. We can apply for a “chargeback” almost anytime that we are (or feel) cheated by the service provider if we have paid using a payment card.
In practice, however, it is available to all Visa and MasterCard holders. It is easier to get “Chargeback” by paying using the latter.
“Chargeback” – step by step
- We report a complaint to the issuer of our card – generally, this is the Bank who supplied the card. We call or write an email to them, and describe the problem. Usually, Bank employees will ask us to provide additional information, such as statements or evidence that other complaint methods were unsuccessful. It is worth having a full case file prepared.
- The Bank then starts the “Chargeback Procedure”. If your bank doesn’t want to start this, repeat point 1 until successful – By phone, letter or Email. The bank places a “Chargeback Code” to the case, this indicates the reason for the complaint and they must then contact the payment operator.
- The operator contacts the Company / Individual from whom we want to receive a refund. The Seller then has 4 options:
- No reply – We receive a “Chargeback”.
- Accepting the complaint – We receive a “Chargeback”.
- They do NOT accept the complaint, but provide no evidence that we are incorrect – We receive a ”Chargeback”.
- They do NOT accept the complaint and provide evidence that the claim is unfair/unacceptable – We do not receive a refund.
- The operator informs the Bank about the contact with the Seller, and the Bank informs us about the decision relating to the matter. If the other party to the dispute ie. The Seller – Has not provided evidence that we are incorrect – We receive a refund.
Our role – “As Victims” – In the whole process, is therefore only to prove that we have already tried to recover money in another way and we are correct to demand a Refund. You can clearly see what a good weapon this is in the fight against numerous “SCAM’s” and you can recover funds paid using most bank Cards via a “Chargeback” if you finalized the transaction via a Bank payment card.
The complaint should be submitted as soon as possible, for most Companies / Banks, the time limit is in most cases 120 days from the payment date.
Banks don’t like “Chargeback”
***You should remember that Banks may obstruct the entire procedure, so You should not be discouraged after the first refusal to continue to initiate the “Chargeback” process. Your Bank is obliged to make the appropriate refund. You must try to accurately describe the case in full / send supporting documents and keep notes & names & times of all verbal, written, or electronic contact.