What is a chargeback? UK card payments explained
What is a chargeback? Watch the full video above, or read the complete timestamped transcript below.
Transcript
[0:00] What is a chargeback? A 60-second plain answer.
[0:07] A chargeback is when a customer disputes a card payment with their own bank, and the bank pulls the money back out of your account. It runs on Visa and Mastercard scheme rules, not your card machine provider.
[0:14] The window. A UK customer can raise a chargeback up to 120 days from the transaction date. The card scheme decides, you do not.
[0:22] Your defence. When a dispute lands, you have a short window, often 12 days, to submit evidence. A signed receipt, delivery proof, and chip-and-PIN beat tap-and-pay for higher value sales.
[0:29] The cost. Most acquirers charge a chargeback fee of 15 to 25 pounds each, win or lose. Too many can trigger a reserve.
[0:37] Full UK chargeback and fees guide on merchanthq.co.uk.
MerchantHQ is an independent UK comparison and introducer service, not a payment provider.