Lokesh M

 Profile Answers by Lokesh M Questions by Lokesh M

• Feb 7th, 2012

 

Chargeback means refund / return of funds to the buyer. Here the bank reverts back the transaction between the buyer and seller when chargeback is initiated. A chargeback is initiated by the buyer when the service / product provided the seller / service provider is not satisfactory. However the buyer will have to contact the issuing bank, and provide substantiate proof of deficient service / product in order to file a chargeback.