A chargeback is a transaction that your customer is disputing. They could be claiming that
they did not authorize the charge, the item they received was not as described, or perhaps
they were charged a different amount than what was agreed upon.
Please note, once a chargeback occurs you are automatically debited the amount of the transaction (the bank gives the funds back to their cardholder).
After a chargeback is issued, it is on you to provide supporting evidence that the charge was a
valid one. You would do this by providing support documentation such as a signed proof of
delivery that shows the item was shipped to the correct address, a full description of the item
(along with the price) at the time of the sale, any email correspondence or back and forth you
may have had with the cardholder, etc. You should provide as much detail and
documentation as possible.
Follow the steps in this guide for responding to a dispute if you would like to dispute (or
answer back) the chargeback that has been issued.
Please note, although you have chosen to respond to the chargeback with your support
documentation, it does not mean that you will get your money back. If the issuing bank
doesn’t think what you have provided is enough evidence to deem the transaction valid, they
will escalate the dispute back to you and ask you to provide more information. If they decide
what you have provided is sufficient, they will reverse the chargeback and return the funds.
As mentioned above, If the issuing bank doesn’t think what you have provided is enough evidence to deem the transaction valid, they will escalate the dispute back to you and ask you to provide more information. By this point, the chargeback case has reached “Pre-Arbitration” status. This means the bank is trying to resolve this matter with you (the merchant) before they send it to either the Visa or MasterCard committee to make a final ruling on it. If a Pre-Arbitration is issued, you will have to either provide additional support documentation, or accept the dispute at this point and move on.
It is highly recommended that if the dispute has reached the Pre-Arbitration stage, and you do not have anything additional you can provide, you accept liability for the dispute to avoid an Arbitration filing.
If you decide that the dispute from the cardholder is a valid one, and you do not wish to respond to it, you can simply just accept liability for it. This will end the dispute process and let the cardholder keep their money.
If a chargeback has already been issued, do not issue a refund to the cardholder. They already have the funds back in their account, so any refund issued will fail. Simply just accept the chargeback.
Chargeback (or dispute): A chargeback is a dispute of a purchase that has already been charged to an account that can result in a return of funds.
Respond: By clicking “respond” you are saying that you wish to fight the chargeback, and can provide valid support documentation backing up your claim. You will attach those documents directly in the portal (please see step by step directions).
Accept Liability: By choosing to accept liability of the chargeback, you are saying the cardholders dispute is valid and that they should remain in possession of the funds (please see step by step directions on how to accept liability for the dispute).
Pre Arbitration: A pre arbitration is the escalation of a dispute that you have already responded to. It is the bank coming back to you looking for more information on the transaction before they send it off to the card brands for a decision.
1. Open your browser (Internet Explorer, Google Chrome, Safari, etc.) and go to: https://portal.currencypay.com/login
2. Type in your login and password information and click green “Log In” button.
3. On your main page, you will see NOTIFICATIONS icon that will have a red icon on it to alert you about new disputes. You can also access your disputes by clicking the menu option DISPUTES on the left side.
4. Once you click DISPUTES button, you will see all open chargeback disputes. This is where you will act and be allowed to respond/contest OR accept liability. CLICK ON THE DOLLAR AMOUNT OF THE TRANSACTION YOU WOULD LIKE TO TAKE ACTION ON.
5. Once you click on the dollar amount, you will see the Transaction Details screen below. You will see three buttons:
b. Accept Liability
c. Mark as Unread – this button will make sure that the dispute is marked Unreadto alert you next time you login your portal.
6. We will first elaborate on RESPOND function. You will click respond if you would like to dispute the chargeback. Once you click that button, you will see the following window pop up.
– PLEASE MAKE SURE THAT YOUR ATTACHEMENT IS IN .PDF FORMAT.
– YOUR ATTACHEMENT CAN’T EXCEED 2MB AND ALL ATTACHED DOCUMENTS CAN’T EXCEED 10MB IN TOTAL.
7. Please input the Contact name, Note and attach a document, if available, as proof of alegitimate transaction: order tracking number, receipts, order info, signed invoice, etc. Click Submit Response to submit your response.
8. Another action you can take is “Accept Liability”. Clicking this button means that you accept responsibility hence agreeing to refund the charge. Once you click ACCEPT LIABILITY button, following window will pop up. Click CONFIRM button and you will be all set.