Chargeback and Refund - what is the difference?

maniac · 2007-08-22, 04:39 PM

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?

nekrom · 2007-08-22, 09:25 PM

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

massive-x · 2007-08-23, 05:53 PM

Anyway I hate'em both

NinjaSteve · 2007-08-24, 11:49 AM

Quote:

Originally Posted by nekrom

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

And in the end a refund is better than a cb

Triton2004 · 2007-08-25, 02:21 PM

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...

2007-08-22, 04:39 PM	#1
maniac Aw, Dad, you've done a lot of great things, but you're a very old man, and old people are useless Join Date: Apr 2006 Posts: 21	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? __________________ soon...

2007-08-22, 09:25 PM	#2
nekrom Are you sure this is the Sci-Fi Convention? It's full of nerds! Join Date: Jul 2004 Location: Australia Posts: 263	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 __________________ The afp ownz all your base.

2007-08-23, 05:53 PM	#3
massive-x Just because I don't care doesn't mean I don't understand! Join Date: Jan 2006 Posts: 92	Anyway I hate'em both

2007-08-25, 02:21 PM	#5
Triton2004 WHO IS FONZY!?! Don't they teach you anything at school? Join Date: Aug 2007 Location: Slovakia - EU Posts: 49	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...