Visa and Mastercard guarantee that you can apply for a chargeback at any time within 120 days from the date of the transaction. Under certain conditions, the chargeback processing period can be as many as 540 days. In some jurisdictions, the law provides you with even more time to apply for a chargeback.
American Express also imposes a 120-day time limit on its cardholders. Discover and Diners Club International, which it owns, do not have any chargeback time limit.
The debit card or credit card chargeback process begins when a cardholder submits a request to dispute a transaction with the merchant to the bank that issued the card or the issuing bank.
Once the issuing bank accepts your request, it will raise a dispute with the merchant’s bank or the acquiring bank. The issuing bank alerts the acquiring bank through the credit card network’s dispute resolution center scheme. The acquiring bank then informs the merchant.
In certain cases, the sum you challenge may at this time re-appear in your account as a temporary credit. If so, DO NOT use it. Wait until you win your case and the temporary credit becomes permanent.
At the end of the process, the issuing bank will either side with the merchant, and say the transaction stands or will require the merchant to return the money to the customer.
The decisive factor in the chargeback process is persuading the issuing bank that the customer deserves to have their money returned. The key is providing supporting evidence and documentation to bolster the claim.
With JFD FORENSICS LLC. our team collects information, investigates fraudulent merchants and brokers, and will give you a game plan to make your chargeback claim successful.