Refund Versus Chargeback

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As explained in the article What Is a Credit Card Chargeback? , a chargeback occurred when Leroy contacted his credit card issuing bank to dispute a charge on his billing statement that he did not authorize. He was unaware that his wife, Mary, purchased weight loss supplements online from George, the merchant.

Ultimately with chargebacks, the goal is get back funds from a purchase that left you unsatisfied — or even a purchase you did not authorize. To most, this sounds just like a refund, but it is not. So, what is the difference between a refund versus chargeback?

Understanding Refunds

If Leroy called George to discuss the transaction and request his money back, then he would be asking for a refund. The main difference between a refund versus chargeback is that the merchant deals with the refund and the credit card issuing bank deals with the chargeback. However, there are other differences between the two types of money-returning transactions.

Learn More about a Refund Versus Chargeback

There is much more to learn about the differences between a refund versus chargeback. However, that will require you to continue on reading about Mary, Leroy, and George. You can learn about refund benefits, chargeback disadvantages, or when you should file a chargeback.

About Instabill

Instabill is an e-commerce merchant account provider that works with online businesses worldwide. We perform due diligence steps on each merchant to ensure that the products they provide are legitimate. Instabill strives to eliminate fraudulent online merchants as well as the number of fraudulent transactions from its merchants.

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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.

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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.

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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.

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