A chargeback is when a customer opens a claim with their financial institution to reverse the transaction amount.
Why A Chargeback
Chargebacks are created for many reasons and Warranty Killer Performance will work with every customer to avoid this. The most common types of chargebacks are listed below.
Product Not Received
The cardholder will dispute a debit/credit card charge with their financial institution. 2
The cardholder's financial institution takes the disputed amount and a chargeback fee from Warranty Killer Performance. 3
The financial institution asks Warranty Killer Performance for evidence that the charge was valid. 4
Warranty Killer Performance submits evidence that the charge was valid to the financial institution. 5
The financial institution reviews the evidence. The review can take up to one-hundred eighty (180) days after the response is submitted. 6
The financial institution resolves the chargeback. 7
The cardholder and Warranty Killer Performance gets notified of the resolution.
What Happens If You Open A Chargeback
Warranty Killer Performance will freeze your account so no additional orders can be placed during an open chargeback.
Warranty Killer Performance will review the information and submit claim details to your financial institution.
How To Close A Chargeback
The customer must contact their financial institution and ask them to drop the chargeback. Warranty Killer Performance will verify the chargeback was closed and proceed with processing or refunding the order at the customer's request.
How Long Does Chargebacks Take
Chargebacks are handled different for each financial institution. It is estimated to take between ten (10) and one-hundred eighty (180) days from the date you open a chargeback.
PayPal Claims are usually handled between five (5) and thirty (30) days from the date you open a claim.
Every financial institution is different and typically charge between ten ($10) and forty ($40) dollars. Chargeback fees are required even if you win or lose the chargeback.
What We Will Do
Freeze your online account,
Contact your financial institution and submit claim details, and/or;
Close the chargeback.
What We Will Not Do
Close the chargeback if items have been delivered.
Issue a refund while the chargeback is open.
Contact the customer with claim details.
Provide reimbursement expenses to the customer.