What is a Chargeback?
A chargeback is a report initiated by a cardholder when they dispute a credit or debit card charge.
Chargeback process
Grey ensures a structured and efficient process for handling card chargebacks. Below is the step-by-step guide:
Dispute: The cardholder contacts Grey to dispute the transaction. To begin the process, you must provide the following:
A clear explanation of the issue.
Transaction details (date, amount, and merchant information).
Reason for the payment to the merchant.
Proof of engagement with the merchant.
Evidence that the merchant has refused a refund, and you did not receive value.
Any additional supporting documents that validate the claim.
Chargebacks have a nonrefundable processing fee of $40 per transaction. This fee will be deducted from your balance before initiating a chargeback.
Chargeback initiation: We will review the claim and the provided evidence and initiate a chargeback against the merchant if the dispute is valid.
Investigation process: When a chargeback is initiated, we notify the merchant about the dispute. After completing the investigation, Grey will provide an update, which may result in either:
Approval of the chargeback – The transaction amount is refunded to the user's account.
Denial of the chargeback – If the transaction is found to be valid, the merchant confirming the transaction was successful, and the cardholder received value, the chargeback request will be rejected.
Timeframe for chargeback resolution
You can raise a chargeback or dispute within 30 to 120 days from the transaction or expected delivery date. The chargeback resolution will also take 30 to 120 days.
A refund is different from a chargeback— you must contact the merchant first for a refund.
A $40 non-refundable processing fee applies per chargeback and will be deducted from your balance before the chargeback commences.
Chargeback resolution takes 30 to 120 days.
Chargebacks cannot be filed after 30 to 120 days from the transaction date.