Chargebacks are the full reversal of a transaction by the card issuer. A chargeback is generated when a cardholder disputes a transaction on their credit card statement.
A request for information or documentation request is a request from the cardholder's issuing bank for copies of a signed sales receipt or other suitable documentation to prove the validity of a transaction.
A retrieval request is also known as a "first request" or a "Request For Information" (RFI). A retrieval request is issued when a cardholder does not recognise a specific transaction on their credit card statement. A cardholder's issuing bank may generate a retrieval request if it is detected as fraud.
How long does a chargeback/retrieval request take?
The time scales vary for each chargeback reason and card scheme. A chargeback may be raised several months after the original transaction. The first chargeback time limit is generally calculated from one of two dates:
- The date the transaction is processed by the card scheme, or;
- The date of expected receipt of services (e.g., for travel services, the expected date of travel).
The first chargeback time limit begins on the calendar day following these dates, and the issuing bank has typically up to 180 days from this day to raise the chargeback. However, chargebacks and retrieval requests can occur at various time scales depending on the reason for the dispute as well as the financial offers surrounding the transactions.
What information is required to represent (dispute) a chargeback?
In order for a representment case to be considered for bank submission, the following details must be provided to us within 5 business days.
- A faxed or scanned document (referred to as a "sub draft") showing the card holder's information (name, address, card number, expiry date, cvv response, phone number, email address, ip number, etc.) and a description of the goods or services provided for this transaction.
- Any of these additional, optional items, provided to increase your chances of winning a representment case:
- A copy of a paper sales draft or fax showing the card holder's signature.
- A legible photocopy of the front and back of the customer's credit card.
- A legible photocopy of the card holder's passport or driver's licence.
- Any additional proof of the order authorisation or merchant fulfilment.
For a more detailed overview on what chargebacks are and how to protect yourself against fraud, refer to our Chargeback and Anti-Fraud Guide