What is a chargeback?

A chargeback is a process that allows a consumer to dispute a charge on their credit card or debit card and have their money refunded. It is a way for customers to resolve disagreements or issues that arise with a purchase or service they’ve paid for with their credit card. In Washington state, chargebacks are regulated by the Washington State Department of Financial Institutions and must comply with the federal Electronic Fund Transfer Act. When a customer files a chargeback, the credit card company will investigate the dispute and attempt to resolve the issue with the merchant. If the credit card company finds that the charge was made in error or the customer was not satisfied with the purchase, they will issue a credit to the consumer’s account. The consumer must provide evidence to support their claim of fraud or dissatisfaction to the credit card company, such as proof of purchase or a copy of their billing statement. It is important for consumers to be aware of their rights and responsibilities when filing a chargeback. Many banks have specific timeframes or criteria for filing a dispute so it’s important to read the details of the policy. Chargebacks are a useful tool for consumers to protect themselves in the event of a fraudulent or unsatisfactory purchase. However, customers should remember that disputing a credit card charge should only be done as a last resort as it can have a negative impact on their credit score if done too frequently.

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What is a chargeback?

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