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Bitcoin fogalma to navigation Jump to search This article is about the return of funds to consumers. Please help improve it or discuss these issues on the talk page. This article needs additional citations for verification.

This is because nice to have more countries described. Please help to improve it, or discuss the issue on the talk page. The examples and perspective in this article may not represent a worldwide view of the subject. Chargeback is the return of funds to a consumer, initiated by the issuing bank of the instrument used by a consumer to settle a debt. Chargebacks also occur in the distribution industry. This type of chargeback occurs when the supplier sells a product at a higher price to the distributor than the price they have set with the end user. The distributor then submits a chargeback to the supplier so they can recover the money lost in the transaction.

The chargeback mechanism exists primarily for consumer protection. Holders of credit cards issued in the United States are afforded reversal rights by Regulation Z of the Truth in Lending Act. A consumer may initiate a chargeback by contacting their issuing bank and filing a substantiated complaint regarding one or more debit items on their statement. The threat of forced reversal of funds provides merchants with an incentive to provide quality products, helpful customer service, and timely refunds as appropriate. Chargebacks also provide a means for reversal of unauthorized transfers due to identity theft. In 2014, a report by Chargebacks911 stated that the Top 5 U. With each chargeback the issuer selects and submits a numeric reason code.

Clerical: Duplicate billing, incorrect amount billed, or refund never issued. Quality: Consumer claims to have never received the goods as promised at the time of purchase. Fraud: Consumer claims they did not authorize the purchase or identity theft. One of the most common reasons for a chargeback is a fraudulent transaction. In this case, a credit card is used without the consent or proper authorization of the card holder. In some cases, a merchant is responsible for charges fraudulently imposed on a customer. Fraudulent card transactions often originate with criminals who gain access to secure payment card data and set up schemes to exploit the data.

Chargebacks can also result from a customer dispute over statement credits. For example, a customer may have returned merchandise to a merchant in return for credit, but credit was never posted to the account. A dispute may also arise if a customer does not receive items they have paid for or if the items were not what they expected. Other types of chargebacks are related to technical problems between the merchant and the issuing bank, for example when a customer was charged twice for a single transaction. Other chargebacks are related to the authorization process of a credit card transaction, for example, if a transaction is declined by its issuing bank but the account is still charged.