· Comments Off on The basics to avoid chargebacks · Categories: Tips & Ideas

A major issue that businesses accepting credit card transactions face is the chance of customers attempting to dispute a refund.

Under such a situation, your company’s bank will send you a notice and charge a chargeback fee. These bills are expensive.

avoid chargebacks

As soon as you get a chargeback notice, you should find out how and why you have got this claim.

You can reverse the fee and charges by fighting the claim via your transaction processor. If you dispute the claim successfully, the amount will be credit back to your account.

It is important to prevent chargeback in the first place and you can do this by reading the billing statement.

Cautiously check that the name of your company mentioned is processed rightly and make sure it is clearly and properly visible on the receipt.

Always include a customer receipt for any product or service you sell. Also, monitor your transportation and courier of goods and services.

Keep in mind to note that the address you are shipping the goods is the same as the one you have verified. Never delay in answering retrieval requests.

You may ask this question to yourself “is there a way to protect yourself from chargebacks?” Unluckily, the vendor is responsible to pay the chargeback fee but with proper prevention techniques, you can minimize the number of chargebacks you get.

Though the processing fee of the chargeback may appear small, on a big scale it becomes a hassle.

Usually, banks charge less than $20 but the chargeback fee varies for all. It is necessary to discuss with your sales representative about all the chargebacks you receive and know the reasons why you are receiving them so that you can prevent them in the future.

Also, remember that chargeback fees are inevitable when you accept credit card payments. Hence, all you can do is take prevention steps to lower their number.

Seek professional help and check for the best chargeback sites to deal with reversal chargebacks. Do not give up if you have the right number of evidence to prove your point and refund the claim.

Discuss it with your team to find out what you can do about a particular case and deal with it cautiously.

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