Chargebacks 911
Chargebacks can be used to dispute a credit card transaction and secure a refund for the purchase. A chargeback voids a credit card transaction, withdrawing funds that were previously deposited into the merchant’s bank account and applying credit to the consumer’s credit card statement. Chargebacks differ from traditional refunds in one simple way: rather than contact the business for a refund, the consumer goes over the merchant’s head and asks the bank to forcibly remove funds from the business’s bank account. If the bank feels the cardholder’s request is valid, the funds will be removed from the merchant’s account and returned to the consumer.
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