What is it?
A chargeback is the reversal of a prior credit card sale transaction. A credit card chargeback occurs when a cardholder or card issuer (VISA, Mastercard, Discover, or American Express) disputes a transaction charged to their account and the resolution process results in a favorable decision to the cardholder. Customers dispute charges to their credit card usually when goods or services are not delivered within the specified time frame, goods received are damaged, or the purchase was not authorized by the credit card holder.
Why is this important?
A customer has approximately eleven months to dispute a charge, and there is a notification and retrieval process which is time-sensitive. The Cash Office unit within Financial Services’ Business Operations responds to all chargeback notifications with assistance from the applicable department. If the department chooses to challenge/dispute the chargeback, it is critical to respond to the Cash Office within the designated timeframe by submitting a response to substantiate the charge along with the appropriate backup-up documentation. Examples of backup documentation include:
- original sales slip with signature
- invoice (reason for payment)
- proof of delivery of goods/services
- non-refundable fees – a copy of the University Policy detailing the terms and obligation for the particular charge
- copy of the cashed refund check (front & back)
Where do I find more information?
For more information please contact Receipt.Accounting@carleton.ca or view the Cash/Cash Equivalent Handling policy.