What is a chargeback? You would like to know what a chargeback is.
A chargeback occurs when a credit card holder contacts his or her bank or credit card company to dispute a charge on his credit card account. Common reasons for chargebacks include:
- The cardholder does not recognize the charge on his or her statement
- The cardholder did not receive the product or service
- The cardholder was unsatisfied with the product or service
- The cardholder’s credit card was stolen or used without their permission
You will be contacted by your merchant services provider, in case of a chargeback.
DoJiggy Payments Clients
When a chargeback is issued, the total amount of the chargeback is deducted from the available balance in your DoJiggy Payments account and held in reserve until the chargeback process is complete. You will also be charged a non-refundable chargeback fee. If the funds in your DoJiggy Payments account aren't sufficient to cover the amount of the chargeback and fee, the bank account you have on file will be debited accordingly. If you concede the chargeback, you accept responsibility and the money is not returned to your account. If you challenge the chargeback, you have the opportunity to reclaim the funds though this is not guaranteed.