Is chargeback valid for full one year period after payment?

Discussion in 'Payment Processing' started by wuken, Feb 7, 2009.

0
  1. #1
    As title. I refer to general credit card payment with VISA/Mastercard.
    Is it true?

    Thanks
     
    wuken, Feb 7, 2009 IP
  2. RightMan

    RightMan Notable Member

    Messages:
    8,294
    Likes Received:
    450
    Best Answers:
    0
    Trophy Points:
    205
    #2
    I am not sure if the criteria is different for credit card payments, but I am sure the chargeback is valid for cash payments for about 30 days....

    Regards,

    RightMan
     
    RightMan, Feb 7, 2009 IP
  3. digitalpointdevine

    digitalpointdevine Peon

    Messages:
    63
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #3
    Chargeback claim within PayPal could be initiated within 45 days from the day of payment/purchase. But chargeback claim from credit card issuer or bank still can be initiated within one year or more time period. But standard period for chargeback is within 3-6 months. It really does not have any specific time limit. From card holder side it is easier to win the chargeback claim against the merchant the earlier it is filed.
     
    digitalpointdevine, Feb 8, 2009 IP
  4. jestep

    jestep Prominent Member

    Messages:
    3,659
    Likes Received:
    215
    Best Answers:
    19
    Trophy Points:
    330
    #4
    6 months from the date the transaction is complete. The "complete" part is key because a transaction is not complete until the final products is delivered. The best example of this is a magazine subscription. The 6 months would technically start after the last magaize of a subscription is delivered.

    Also, issuing banks may impose slightly more restrictive that Visa/MC. But 6 months is the actual time period.
     
    jestep, Feb 8, 2009 IP