Quote:
Originally Posted by MaryMary  A chargeback is what happens when a merchant has to issue a credit into one of their credit card holder's accounts for one reason or another.
Most chargebacks are first started by the card holder after seeing a mistake on the statement.
Chargebacks are also used when a customer does not receive the goods that they purchased. When this happens, a chargeback will reverse the payment from the merchant back to the card holder's account |
In addition, they are mostly done when people are scammed by sending payment for virtual item or a service.
Some banks do take a fee to do chargeback. Also, that needs to be done within 30 days after the issue of statement(In most banks)