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By accepting credit cards through your online store, you may encounter chargebacks or inquiries. A chargeback occurs when a cardholder disputes a charge on their credit card and contacts their bank, who then makes a chargeback request. This can happen if the cardholder is unsatisfied with a purchase or doesn't recognise the charge on their statement. For example, a stolen credit card has been used to make a purchase, and the owner of that credit card has reported this to their bank. The cardholder can be your customer or someone who claims that their card was used in your store without their consent.
When a cardholder's bank issues a chargeback, the disputed amount is taken from your account, and Bopple incurs a chargeback fee of $25. If an inquiry is issued, no amount is taken right away.
To resolve the chargeback or inquiry, Bopple will need to provide evidence to the bank that issued the cardholder's credit card. The bank reviews the evidence and determines whether the chargeback is valid or not. If the chargeback is found to be invalid, you'll get the disputed amount back, and any chargeback fee will be refunded by Bopple. If the chargeback is valid, the disputed amount is returned to the cardholder.
Bopple currently counter's the disputes on your behalf by providing evidence and documentation in regard to the inquiry.
This is the typical process for an inquiry:
- The cardholder disputes a charge with their bank.
- The cardholder's bank sends an inquiry request to the credit card company. The credit card company does not take the disputed amount from Bopple.
- The credit card company asks Bopple for evidence that the charge was valid.
- Bopple gathers evidence to figure out whether the charge was valid and adds it to the inquiry response.
- After we complete your inquiry response, we forward it to the credit card company by clicking Submit response.
- The credit card company reviews the evidence. The review usually takes 65 to 75 days after the transaction is made. In a few cases, the review can take longer than 75 days.
- The credit card company resolves the inquiry.
If the inquiry is closed in your favour, then no money is taken. If the cardholder's inquiry is closed in their favour, then the credit card company might proceed with a full chargeback and take the disputed amount, plus the additional chargeback fee, which is currently absorbed by Bopple.