Merchant Account Chargebacks

[ebaywillpay]

This may be helpful for any 1st time Merchant account owner who may, hopefully not receive a chargeback by a buyer.

If you have a chargeback on your Merchant account you will be in a similar perdicument to a paypal limitation.

After you receive your chargeback The Merchant account provider holds a certain amount of your funds from each transaction you make and places them in a RESERVE account. You'll then have to provide proof of where you sell and what you sell. If you sell on ebay, your feedback will be reviewed etc. The charge back fee can be a minimum of $55 dollars plus additional fees. The fees will be automatically debited from your CHECKING account your used to sign up with until the chargeback is finalized and a decision is granted in your favor or the buyers .

To keep your accounts up and running its recommended you ship all items in a timely manner, make sure you sell items as described and keep your documentation in a safe place (ie, tracking #, supplier info, invoices).

Avoid Chargebacks at all cost and your merchant account will stay afloat

[Jonas]

Mine doesn't demand information. It mails chargeback documents that say "response due by" and the due by is usually a day before they came in the mail. Then they usually want proof of AVS match for street and zip and then signature of cardholder.

[ebayhateluv]

Hi-that's why its Best-to never let it get that far-give em the refund+ move on... I even send my people prepaid return labels..I've had 3 chargebacks in my life...All 3 were Buyer scams..2 were Amer express..They tried to side w buyer-went to Arbitration-U can't ⊗⊗⊗⊗ a ups Proof of Delivery..so case closed in my favor..I will add- Amazon holds a small reserve-like $60..maybe that's avg sale amt?

[ebaywillpay]

Jonas point taken!

All new Merchant account owners:

1)Like ebayluvhate said- If you have an unhappy buyer and have not shipped the item, contact your Terminal provider and ISSUE A REFUND.

2)If you have shipped the item- **With the 1st initial shipment you should add a return address slip which will let the buyer know where too return the item.(This will save you some time and $) Once you receive the item back ISSUE A REFUND.

3)To avoid a chargeback being granted in the the favor of a buyer who claims they have NOT received the item ship the item with SIGNATURE REQUIRED FOR DELIVERY (ie., Shipping with USPS)

4)If you notice your current payments are not being deposited into your bank account like usual (2-3/3-5) business days, this may be because your payments are either on hold or in a reserve account due to a UNKNOWN chargeback by your Merchant account provider. If so, you may receive a phone call from them directly. If you dont receive a phone call ,call them and inquier. They will request certain information for your to print and fax to them. If the chargeback dispute goes in the favor of the buyer your funds may be placed under something similar to a paypal limitation up to 6 months.

This is just alil information to keep in mind while doing business with your Merchant account. Hope this info helps

[ebaywillpay]

Ebayhateluv: i beleive the reserve amount is based off the dollar amount or average dollar amount of the items you sell. If you sell expensive high end items the reserve is more then less. Dont quote me on this i may be wrong, Lol.