Refund Benefits

Bookmark and ShareBookmark and Share refund benefits

If Mary was unhappy with the weight loss supplements she purchased online from George, she would want her money back immediately. However, since George was unaware of Mary's transaction, he assumed the charge was fraudulent and filed a credit card chargeback — another situation where a cardholder would want his money returned as soon as possible. There are many refund benefits, but the time it takes to get your money back is by far the most important.

Time Is of the Essence

Consider this: How much time would it take George to apologize to Leroy and issue the refund while the two were still on the phone? At least a few minutes. (Or, better yet, for George to explain that Mary authorized the transaction.)

Now, consider this: How much time do you think it would take Leroy to get back his money if he called his credit card issuing bank, which called George's acquiring bank, which called George and gave him five days to respond? At least five days.

Sadly, because Leroy filed a chargeback with his credit card acquiring bank, he will have to wait at least five days to figure out whether he will be getting back his money.

Additional Refund Benefits

If Mary were to have called and complained about the poor quality of George's weight loss supplements, he would likely want to compensate Mary for her troubles and entice her to return. George or one of his customer service specialists would undoubtedly give Mary a heartfelt apology as well as a full refund and may even offer her a discount on her next purchase, free shipping, or a complimentary gift.

Always remember that customer is king (or queen!) and merchants love making their customers happy so they return. However, do not forget to call the business to praise them on their goods or services.

Chargeback Disadvantages

Sure, filing a chargeback may have its advantages in certain scenarios, but it is more important to learn about the disadvantages they offer. Continue to read about Leroy's struggles and learn all about chargeback disadvantages on Instabill.org.

About Instabill

Instabill is a well-known and reliable merchant account provider that works with Internet businesses worldwide. Before offering credit card processing services, our account managers perform due diligence steps on each inquiring business owner to ensure that they are operating a legitimate company.

[facebook.png] [twitter.png] [linkedin.png] [rssfeed.png]
 
Call +1-888-475-4379

In Chargebacks 101 for Merchants, Instabill teaches business owners about the chargeback process and chargeback reversal process. Instabill also offers advice on how to prevent chargebacks as well as credit card fraud.

Learn More

In Chargebacks 101 for Consumers, Instabill clearly identifies the similarities and differences between refunds and credit card chargebacks. Consumers can learn what situations are best for each type of transaction.

Learn More

Instabill is an Internet payment service provider with more than 12 years of credit card processing experience. Learn more about Instabill as well as why the company created the website Instabill.org.

Learn More