What is the difference between a chargeback and a refund?
An example of an AI chatbot conversation about chargebacks and refunds.
What is the difference between a chargeback and a refund?
A chargeback is a reversal of a transaction initiated by the bank, while a refund is a return of funds initiated by the merchant.
Can you explain when I should request a chargeback instead of a refund?
You should request a chargeback if you believe the transaction was fraudulent or if the merchant is unresponsive to your refund request.
Are there any fees associated with chargebacks?
Yes, merchants may incur fees for chargebacks, and excessive chargebacks can lead to penalties from payment processors.
How long does it take to process a chargeback?
Chargeback processing can take anywhere from a few weeks to several months, depending on the bank and the complexity of the case.
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