Chargeback and Refund - what is the difference?
 

Sorry for the newbie question but I'm not from the U.S. and I use my credit card only for the adult biz. We use cash here in Europe :). I mean I have never had any chargeback/refund experience before.

Anyway, could someone explain me what exactly a chargeback and what a refund is? ...and what is the difference between them?

A CB is when a person informs their bank that the charge on their cc wasn't authorised by them. The bank then refunds/credits the charge back to their card. The bank then passes on a CB fine/fee to the company that placed the charge.

A refund is when the company that charged an amount to a persons cc cancels the charge and credits it back to their cc.

-N

Anyway I hate'em both

And in the end a refund is better than a cb

the best is, when you don't have it very often..One of my webmaster friends had last month a lot of chargebacks. The interesting thing is, that he got rebills from 2 sales which were defined as chargebacks...