What is Charge back?

Chargeback - (from English chargeback-payment (charge) return (back)) is the process of challenging transactions made with cards using payment systems, in which the seller acts on the one hand, and the buyer on the other. At the same time, they interact not directly, but through intermediaries - banks. It must be remembered that the chargeback process itself is regulated by the rules of payment systems - VISA, MasterCard.

Chargeback is a procedure for returning your money, in the event that you were treated unfairly: they sold low-quality goods, refused to perform a service or send goods, illegally debited money from a card without your knowledge, there was a double write-off of an amount, or an amount different from the contractual . Chargeback is the protection of the buyer from unscrupulous sellers. The buyer files a complaint against the seller through the bank that issued the plastic card. The bank, in turn, transfers your claim to the seller's bank. This is how the beginning goes, in a nutshell.
Participants in the chargeback procedure:

1) Chargeback initiator (cardholder, deceived depositor) - you;

2) Issuing bank (the Bank that issued your card);

3) Bank-acquiring (Bank of the seller, in this case, the broker);

4) Broker (seller, legal entity that accepted payment from you);

5) The payment system is an outside observer. It is connected to the process in extreme cases in the order of arbitration.

In what situations is chargeback used?

The paid product was not delivered, and the seller does not want to voluntarily return the money;

The paid service was not performed;

Goods have been delivered or a service has been performed that differs significantly from that described at the time of purchase;

Fraud. Write-off of money without the knowledge of the cardholder;

Double write-off of funds from the account;

Write-off of a larger amount at the time of transfer of funds;

Misleading the buyer;

The money was not dispensed from the ATM.

If it is not possible to resolve the situation on the return of money on your own, then for these reasons it is possible to dispute the transaction (read: how to make a chargeback?). The rules are strictly regulated by the payment systems VISA, MasterCard, MIR. There are also time limits.