Chargeback and Refund - what is the difference?

[NinjaSteve]

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