What Is a Chargeback?

A chargeback is a process that allows customers to dispute credit card transactions and receive refunds for them. It is initiated by the customer, who contacts their bank or credit card issuer and requests a reversal of the transaction. The issuing bank then investigates the claim and either approves or denies it based on its findings. If approved, the merchant’s account will be debited with an amount equal to what was originally charged to the customer’s account.

Chargebacks are typically used when customers feel they have been wronged in some way, such as being overcharged or receiving goods that were not as described. They can also be used if fraudulent activity has occurred on a customer’s account without their knowledge or consent. Chargebacks provide consumers with protection against unscrupulous merchants and help ensure fair business practices between buyers and sellers alike.

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