posted on March 16, 2002 11:28:19 AM new
Can someone please explain what a
"chargeback" is? I always read horror stories about the subject, but ( knocking on wood) have not had the displeasure myself.
posted on March 16, 2002 12:29:25 PM new
a cardholder will dispute a charge that appears on the monthly bankcard statement and/or it may be discovered that the proper bankcard acceptance and authorization procedures were not followed at the point of sale. If this happens, your bank or processor will notify you of the dispute and debit the amount from your settlement/deposit account. This is called a "chargeback." ...With Paypal...this happens when the buyer claims he didnt get his merchandise and Paypal charges you back for the amount.
