What is a chargeback? UK card payments explained
What is a chargeback? A 60-second plain answer for UK SMBs. It runs on Visa and Mastercard scheme rules, not your card machine provider. 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.