Each of us may face a situation where we want to return the money spent from the card. The reasons are different: low-quality goods, cancellation of services, fraud or errors in payment. If you have used a debit card, do not rush to get upset. It is possible to return the money, and there is a chargeback procedure for this.
What is a chargeback and how does it work?
Chargeback is the process of returning money to the customer’s card initiated by the bank. If you paid for a purchase or service, but something went wrong, you can contact the bank to refund the money for the operation. The procedure works thanks to international payment systems such as Visa or Mastercard.
It is important to remember: chargeback works only for transactions carried out on cards. For example, if you transferred money from card to card, you will not be able to return it this way. The procedure is also available if you act within the established deadlines.
Debit card chargeback means the process by which a bank can refund money from your debit card for an unconfirmed transaction. But remember that chargeback is not a panacea. It should be used only when you really face a problem, and not as a way to get money “back just like that.”
When can I apply for a chargeback
Chargeback can be used in the following situations:
- Fraud. If money was debited from your card without your consent or you fell for a scam trick.
- An unproven service. For example, you paid for an air ticket, but the flight was canceled, and the money was not returned to you.
- Low-quality goods. You ordered one thing, but received a completely different one, or the product turned out to be defective.
- Payment errors. For example, the transaction was completed twice.
Important: each situation may have its own rules and deadlines. Usually, the deadline for applying for a chargeback is from 45 to 120 days from the date of the operation.
How to get money back via chargeback
To return money via chargeback, you need to follow a certain procedure. Instruction manual:
- Contact the seller. In some cases, the problem can be solved directly. If the seller agrees to refund the money, there is no need to start a complicated procedure.
- Collect the evidence. In order for your bank to accept a chargeback application, you need to provide proof. These can be: A receipt or confirmation of payment; Correspondence with the seller (if any); A photo or video of the product, if it turned out to be of inadequate quality; Other documents confirming your correctness.
- Contact the bank. Call customer support or visit a bank branch. Explain the situation and apply for a chargeback. Check with the bank what additional documents you may need.
- Follow the process. The Bank is reviewing the application and may request additional information. Be sure to respond to requests on time.
- Wait for the decision. If the bank takes your side, the money will be returned to the card. In case of refusal, you can try to submit a second application with new evidence.
What you need to know about chargeback
Although the procedure seems simple, there are nuances that are important to consider:
- Deadlines. Each payment system and bank has its own deadlines for submitting an application. If you are late, you will not be able to return the money.
- Proofs. The more documents you provide, the higher the chance of a successful chargeback.
- Not all cases are suitable. For example, if you entered incorrect payment details yourself or changed your mind after the purchase, the bank may refuse to refund.
Another important note: the debit card chargeback procedure is not suitable for cases where you have transferred money bypassing banking systems, for example, in cash or via direct transfer.
Chargeback is a powerful tool that helps you get money back for unsuccessful purchases or services. However, it requires preparation and compliance with certain rules. If you encounter a problem, the main thing is to act quickly and collect all the necessary evidence. We hope that our advice will help you successfully use this procedure and protect your financial interests.