Credit card based chargebacks are regulated not only by Visa/MasterCard but also Federal Law in the United States. I am not sure about the law as it pertains to debit cards but from a competitive standpoint, most banks to my knowledge in the United States offer limited protection on debit cards. For example, I know that Bank of America gives you 45 days to dispute transactions unless it's changed recently, Chase 60 days and Commerce Bank 45 days. The process is also very different as with a credit card you file an affidavit and your process is pretty much done but in my experience a debit card chargeback is much more intense. |