Chargebacks Impact Reconciliation …What You Need to Know

Published 4/4/24

What is a chargeback?  A chargeback occurs when a payer disputes a credit card transaction and requests a refund. This could happen if the charge is not recognized by the payer or is believed to be a duplicate or a fraudulent charge.

When a payer disputes a charge, a retrieval request is issued by the credit card issuer on behalf of the payer to provide documentation for the disputed transaction.  If you are responsible for the reconciliation process at your organization, understanding chargebacks is essential to keeping your books in balance as they are requests for funds that have already been deposited into your account.

The chargeback process typically begins when a payer initiates a dispute with their credit card company.  What happens next depends on your payment processor and the payment method used to make the payment.

To help you understand chargebacks, we have a new video for you.  The new Chargebacks Overview video is your first step in understanding chargebacks, and the impact they have on your Reconciliation process.

You can also find additional information about chargebacks in Support Central.  To access Support Central log into the Biller Portal, click Support, Customer Support, and then click the green Visit Support Central button.  Once in Support Central, enter Chargebacks in the search field at the top of the screen.