What is Customer Chargeback?
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Customer chargeback is another term for when cardholders refuse to accept a transaction and request a credit directly from their bank without going through the merchant. This is most often because of unauthorised transactions, loss through a service or product, or erroneous billing. To cut the long story short, once a chargeback application is made by the consumer the bank goes to investigate the matter and if it finds it okay they annul the transaction. Though it helps to protect customers, chargebacks can be dangerous for companies in terms of both money and image.
