65 - Withdrawal limit exceeded: The transaction would exceed the. The chargeback process can last from one month to six months. . Poor order fulfillment: Late order fulfillment or billing for an order before shipping the goods. France saw a drop of roughly 50% during the same period. 634. 9808 [email protected] immediately identifies a chargeback as being the result of first-party misuse. Our research suggests that friendly fraud will represent 61% of all chargebacks by 2023. The chargeback timeline can be based on one of several start dates: If the delivery date or service performance date was not specified, the issuer must wait at least 30 calendar days after the transaction processing date to initiate the chargeback but not exceed 120 calendar days. A chargeback happens when a customer requests for a transaction to be reversed. 0) Email conversations with the customer; Contracts; Digital usage logsChapter 6: Visa Chargeback Reason Codes; Chapter 7: Chargeback responses; Chapter 8: Chargeback response templates; Chapter 9: Chargeback accounting; Chapter 10: Arbitration; Chapter 11: Fraud filters; How to Create the Best Chargeback Responses. e above 0. 00 USD. Thanks for following the Chargeback Gurus blog. A well-structured rebuttal letter should address the chargeback reason code, clearly explaining why the cardholder's dispute is not legitimate and why the funds should be returned to you. Reason Code 03. After the chargeback is initiated, the merchant will usually have between 7 and 21 days to respond with evidence. A02 No Valid Authorization. Date Option. Values are: Blank: Use the draft G/L date. 4 – Other Fraud, Card-Absent Environment. ” This code indicates that the cardholder claims the merchant processed a recurring billing transaction after they had submitted a cancellation request or. Accessed October 31, 2022. Step #2 | Report the Scam to PayPal. The card network then notifies the merchant’s acquiring bank about the chargeback and passes along all the collected information. As we touched on earlier, chargebacks can happen due to technical errors. Protect cardholder data. 3: Goods or services were not received: C08: RG: 4855: 13. 60 due to merchandise, fees, overhead, and other sources of loss. Type. 3 is the less common version for card-present transactions. In this case, the customer files for the pre-compliance chargeback (aka reason code 98). For instance, if the customer claims unauthorized purchase, your letter should cite evidence, such as an IP address matching previous purchases, to support. The major card networks have unique reason code systems, and banks use separate tools. Chargeback Reason Codes List for Mastercard Chargeback Code Chargeback Reason 4801 Requested Transaction Data Not Received 4802 Requested / Required Information Illegible or Missing 4807 Warning Bulletin File 4808 Requested / Required Authorisation Not Obtained 4812 Account Number Not on File 4831 Transaction Amount Differs 4834 Duplicate. If you accept credit cards, you accept that some customers will request refunds. Credit card chargeback reason code: Type: Varchar; Unique: No; Blanks: Yes; Max length: 64 characters; Unique identifier which distinguishes the nature/reason of credit card chargeback reported. Chargeback time frames - A specific period during which a chargeback can be raised. If one member believed the other violated a Visa rule when handling a chargeback, they filed a pre-compliance. Card networks send these codes to merchants to indicate. Reason Code Reason Code North-America Reason Description; 4540: F29: Card Not Present (fraud). First Chargeback failed: Reason Code 4837 not allowed under “issuer auths, they own” chargeback rules: 100001: 400: INVALID_REQUEST: First Chargeback failed: Reason Code 4863 not allowed for authorized CAT transactions: 100001: 400: INVALID_REQUEST: First Chargeback failed: Reason Code 4863 not allowed for authorized face-to-face. Breakdown your chargeback data by some of the variables you collected in step #2: marketing source, product type, issuer BIN, customer’s country, reason code, price, billing cycle, and lag time (amount of time between the transaction and the dispute). 11/03/15 Updated these MasterCard. In these situations, a merchant’s billing descriptor is simply not recognized by the customer. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. GraphQL Docs & Tools. Visa Chargeback Reason Codes; MasterCard. Also, Ethoca Alerts only notify you of chargebacks that occur within the alert. Visa chargeback codes are broken up into four categories: Fraudulent activity; Authorization issues; Processing errors; Customer disputes; Fraudulent activity Therefore, the issuer may submit a chargeback for a Payment Transaction using the message reason code 4842 before the 30-calendar day presentment time frame normally required for this message reason code. The chargeback reason code is important in determining the evidence you need to provide to successfully win the chargeback dispute. Protect cardholder data. Goods / Services Damaged or Defective. Description of Change Where to Look • Require cardholder letter, email or Expedited Dispute Form in first chargebacks for Cardholder Disputes reason codes involving2. The charge you submitted did not receive a valid authorization approval code for the amount of the charge. In most cases, though, cardholders have 120 days after the original purchase date to dispute the charge. processed the transaction correctly. By entering your email, you agree to receive marketing emails from Shopify. A new 4 byte reason code will be used moving forward. Reason code 4853 falls under the broad category “Cardholder Dispute,” meaning the cardholder is saying something about the transaction is wrong. First, after a cardholder contacts the bank to inquire about a transaction, the bank uses VROL to pull detailed transaction information. S. However, the disputes themselves are still categorized by the issuing bank based on the card network issuing the card. Step 4: Card Network Collects Dispute Information. The Mastercard chargeback reason codes were condensed down in 2016, like the process that Visa just underwent with Visa Claims Resolution. 04/04/16 Added American Express Chargeback and Retrieval Reason Codes. The most common reason for chargebacks (30%) is that the purchase was made with a stolen card. It gets worse. Which is meant to know the reason for the dispute. This ranges anywhere from roughly 60 to 90 days after purchase. The cardholder wins: The bank upholds the chargeback, and the funds are not returned to your account. ©Visa uses chargeback Reason Code 80 to designate chargebacks resulting from processing transactions where either the account number or the transaction amount posted with the card issuer. 1. Reason code 98 was a code used for pre-compliance chargebacks before the implementation of the Visa Dispute Resolution system. For each claim, you must craft your representment to suit the reason code under which the bank filed the chargeback. 2 chargeback if you override a declined, referral, or pickup authorization message, but process the transaction anyway. The good news is that most of these invalid claims are disputable by the merchant. The tickets were held at the box office, and no signature, swipe or imprint. Major card networks including Visa, MasterCard, Discover and American Express have different reason code systems. Time Frames by Chargeback Type and Reason Code. Here are some steps you can take to handle chargeback requests: 1. ) A no-nonsense summary of evidence that proves transaction is legit. Chargeback /Dispute; Merchant Response. What are chargeback reason codes? Issuers send chargebacks to the merchant’s acquiring bank with a reason code to communicate what caused it. Today, we at Chargebacks911 are proud to call ourselves the industry’s leading name in end-to-end chargeback management. R13 No Reply. During this process, the representative of the institution examines the reasons’ list. [2] JUSTT. The aim of CE 3. . Card Type Reason Code Reason Text. The shorthand description is “Goods/Services Not as Described. 4 applies to eCommerce, whereas code 10. Then, the crook attempts to trick the victim into disclosing personal account information (account number, routing information, SSN, etc. With the chargeback code in hand, the merchant can now review the transaction. 7 (previously legacy reason code 85, condition 2) is part of the updated version reason codes that were phased out under the Visa Claims Resolution initiative. For each claim, you must craft your representment to suit the reason code under which the bank filed the chargeback. Let’s say you got a Visa chargeback with. REQUEST A DEMO. 00. M49 Vehicle Rental – Theft or Loss of Use. 2. 4 is an updated version of legacy reason code 77, which was phased out under the Visa Claims Resolution initiative. F02. This code applies when either the transaction was processed using an incorrect account number, or the transaction itself was not authorized. Chargebacks911 offers the most comprehensive chargeback management system available, backed by the industry's only performance-based ROI guarantee. The issuing bank collects evidence from the customer and categorizes the chargeback using the appropriate, card network-specific, reason code. Below are some examples of more common reason codes. UA10 Request Transaction Receipt (swiped card transactions) UA11 Cardholder claims fraud (swiped transaction, no signature)Chargeback Reason Codes. If the dispute is deemed valid, the bank or credit union proceeds to issue a chargeback to the merchant. #4 step: The issuer assigns a chargeback reason code. 7: Defective goods and services: C32: RM: 13. Following is the list of Chargeback Reason Codes used by MasterCard: MasterCard Chargeback Reason Codes Reason Code: Category: Description: 4802: Request for Information: Requested/Required Item Illegible or Missing:. FR2 Fraud Full Recourse Program. 8% with at least 1,000 total disputes. Description of Change Where to Look • Require cardholder letter, email or Expedited Dispute Form in first chargebacks for Cardholder Disputes reason codes involvingA chargeback reason code is a 2-to-4-digit alphanumeric code given by the issuing bank tangled in a chargeback. From there, the merchant can look up the code to figure out what the dispute is about. Requested Transaction Information Not Received. Specify the invoice date and net due date that you want the system to assign to chargebacks. Depending on the specific situation, Mastercard will match authorization response to one of the following merchant advice codes: Mastercard Response Code. Any time. Not recognizing your billing descriptor on a statement. Chargeback time limits vary widely depending on the issuing bank, and the chargeback code or reason. 4: Other fraud: Card-absent environment: VCR Dispute Reason Code 13. Chargeback amount is equal to or less than the exceeded limited /authorised amount. Consider Deadlines. Chargeback reason codes. The bank or credit union then conducts an investigation to ascertain the validity of the dispute. ) A no-nonsense summary of evidence that proves transaction is legit. Discover Chargeback Reason Codes Explained. . The deadline for a Chase Bank customer to dispute a transaction is 60 days. 3: Not as described or defective merchandise: VCR Dispute Reason Code 13. Vendors that do not have a well-drafted shipping and order fulfillment policy are susceptible to this category of Shopify chargebacks. We used 3DS to authenticate this purchase and obtained AVS and CVV match codes at authorization (page 2). ) Collect Compelling Evidence. In this article, you’ll learn the key takeaways for merchants: Visa standard chargeback regulations; 3 most common Visa dispute reason codes; New Visa mandate Compelling Evidence 3. The scammer claims to be from the bank, and is seeking to confirm a specific transaction, which the victim denies. In most scenarios, professional chargeback assistance can substantially raise your ROI. 2. No two merchants will get exactly the same chargebacks for the same reasons, but there are definite patterns depending on the market you serve. The shorthand description is “Credit Not Processed. 2 EMV Liability Shift. Know these five rules to avoid payroll blunders triggering fines, penalties and IRS audits. Proof that the. 4. 4 Funding Process. About American Express chargeback reason codes. 3 may be able to represent the transaction and reverse the chargeback with the right compelling evidence. Each chargeback has a chargeback reason code assigned to it, which is a two-digit number that corresponds to the reason the customer is disputing the charge. g. Updated: Valid values updated. Here are some numbers on chargeback reason codes: 30% - the number of chargebacks that result from transactions made with a stolen card. In these situations, a merchant’s billing descriptor is simply not recognized by the customer. These codes are broken down into five different category. The following chargeback reason codes are related to EMV: Visa: 10. Everything You Need to Know (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. 6. MDR also retired reason code 4840 – Fraudulent Processing of Transactions. Thus, the easiest way to prevent chargeback reason code 75 from being. Depending upon the class, a retailer will have a swift way to offer evidence supporting the claim. Faxing and Mailing Agencies: There is a violation of a Visa or MasterCard rule, for which there is no chargeback reason code. Your business may not have to handle all chargeback cases — the processor will provide automatic representation in some instances. A reason code is an alphanumeric code that explains the reason behind the dispute. 1: Use the corresponding dates from the invoice. If you choose to fight the chargeback, Amazon Pay will charge you a $20 Disputed Chargeback Fee. A chargeback is the reversal of a sale transaction that arises from a processing technicality, a customer dispute or fraudulent activity. A chargeback is the reversal of a sale transaction that arises from a processing technicality, a customer dispute or fraudulent activity. However, they don’t address the reason why that chargeback was issued in the first place. But research by Javelin found that merchants dispute 43% of all chargebacks and succeed at 60% of those disputes. 98 First Chargeback. This means providing evidence that will undermine the cardholder’s claim. The most popular type of disputes of the chargeback category. PCI DSS v3. ). 4807 Warning Bulletin File. This may include: Transaction receipts; Merchant credentials; Customer authorizationReason Code North-America: Canada and United States of America; Reason Code: All other countries; Fraud. Issuers will not have the ability to submit lost/stolen fraud chargebacks for chip-on-chip (contact or contactless) AFD transactions. 1 chargeback: 1. There are multiple situations in which this can occur. A reason code will be provided. Acquirer Use of Message Reason Code 7623. Try Shopify free for 3 days, no credit card required. Visa Chargeback Reason Codes. A credit card chargeback is when a bank returns money to you because a credit card charge was fraudulent or you bought something online that wasn’t delivered or was. Description: Reason code for applying handling fee. For more information on these and other updates, check out our complete chargeback reason. It’s important that you include a copy of your customer terms and conditions in order to prove that the customer knew what to expect from the outset. Reason Code 53 re-presentments must be processed within 45 calendar days from the. Reason Code 12. Carefully analyze the reason provided by the cardholder for the chargeback. 15% - the number of chargebacks initiated by cardholders due to retailers shipping the wrong product. What are chargeback reason codes? Mike Conway 2021-03-04T20:56:54+00:00. VCR tables (Figures 1 and 2) map the old Reason Code to its new Reason Code. Take the time to note the following dispute reason codes for Visa. When filing a chargeback, the issuing bank chooses a reason code from the list for the applicable card network. The issuing bank reviews the information. Reason codes for chargebacks are assigned by issuing banks at the time of their creation, depending on the nature of their occurrence. With that said, you still need to understand the reason codes with any chargebacks from Amex. Managing Reason Code 41 chargebacks. 4853 – Cardholder Dispute – Goods or Services Not Provided. The following are reason codes for the same scenario: Visa: Reason Code 30 Services not provided or merchandise not received. Pursuant to the Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and issuing banks must reverse a disputed transaction if the cardholder’s claim. A dispute often has a reason code associated with it. com Europe. If you're contesting a chargeback, you'll need solid evidence. Breakdown your chargeback data by some of the variables you collected in step #2: marketing source, product type, issuer BIN, customer’s country, reason code, price, billing cycle, and lag time (amount of time between the transaction and the dispute). 2: No Authorization Legacy Code: 71. Chargeback reason code description – An explanation which provides the reason of raising a chargeback by the cardholder. Processors handle exception items outside of the chargeback management system, however the merchant will see them designated as a chargeback, with an assigned reason code (e. Protect stored cardholder data. About American Express chargeback reason codes. Chargeback Reason Code 62—Counterfeit fraud pertains to the EMV liability shift. Each card network maintains reason codes to cover all the disputes that qualify for. Section5. The issuer generates a claim, then transmits it to the merchant’s acquirer, as well as to Visa, as a means of noting all reported fraud incidents tied to the merchant. The reason_code will be one of the following values: chargeback_reimbursement: The gross shows positive if the chargeback was resolved in the seller's favor, and the seller gets a refund. Please refer to chapter 5 for more information. Code 4807: Fraudulent Card-Present Transaction. Instead, it needs to be presented as a generic decline. Reference these when rebutting cardholder disputes at your small business. A chargeback reason code is a 2-to-4-digit alphanumeric code provided by the issuing bank involved in a chargeback, which is meant to identify the reason for the dispute. 6: Credit not. We want to clarify: this doesn’t imply that a transaction ID can reliably prevent chargebacks and fraud. You can attempt to work with the customer on a resolution and potentially have the chargeback reversed. Mastercard Chargeback Reason Code 71: Disputed Amount. Depending on the reason for the chargeback, your evidence needs to prove you: verified the identity of the shopper. This may be done by either the merchant or the issuing bank. Chargebacks911® can help your business manage risk from Visa chargeback reason code 10. 3. In general, most retrieval requests are issued to merchants for one of the following reasons: The cardholder wants information for his or her records. And the best way to win a chargeback dispute is to stop a. R03 Insufficient Reply. The payment was declined because the card is reported lost. Pursuant to an Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and edition banks must reverse a disputed deal if aforementioned cardholder’s. Visa chargebacks can be a major inconvenience for merchants. 2. Issuer Review; Allocation. Description of Change Where to Look • Require cardholder letter, email or Expedited Dispute Form in first chargebacks for Cardholder Disputes reason codes involvingChargeback Reason Codes All received credit card disputes include a reason code. 3 is the less common version for card-present transactions. Attachment A: Copy of the customer's transaction on xx/xx/xxxx using a credit card ending in XXXX. Inform your acquirer of the date that the credit was issued. Chargeback fees can start at US$25 and go up from there. For example, American Express has more than a dozen retrieval request reason codes while Discover only has four. EFM MONTHLY CRITERIA NUMBER OF E-COMMERCE TRANSACTIONS FRAUD CHARGEBACK AMOUNT FRAUD CHARGEBACK RATIO BASIS POINTS (BPS) 3DS UTILIZATION (EMV 3DS + DATA. Through 2021, we analyzed chargeback reason codes across various subscription-based verticals. All cardholder data must be encrypted, truncated, or tokenized; account numbers can only be partially displayed. United States. American Express chargeback reason code C31 falls under the “Card Member Disputes” category. 634. Terms and conditions. At the same time, the average chargeback costs $191, with merchants bearing more than two-thirds of the financial impact. Each chargeback is disputed by a specific reason code. That suggests that in the times when merchants. Which fraud reason codes will be included in EMV Liability Shift? How are Lost/Stolen transactions affected? A. 1: goods not received. Code 10. If you believe you have received an ACH return in error, you can contact your bank. They also can’t prevent the lost sales revenue and merchandise resulting from a consumer dispute. The terminal action codes are in Table 122 of the 4. A reason code is how banks categorize the reason for a chargeback. The deadline for a Chase Bank customer to dispute a transaction is 60 days. How many chargeback reason codes are there? Among the four major credit card networks, there are a total of 151 reason codes. A chargeback filed due to buyer’s remorse is a prime case of friendly fraud; a situation where a customer side-steps a return policy in order to gain an illegitimate refund. Check the chargeback reason code. Chargeback guarantees usually carry some fine print—they may only cover certain chargeback reason codes, or only cover costs up to a certain dollar amount. 77. 1. Be sure you understand the cardholder’s claim. Make sure the evidence you include and the claims you make are relevant to the chargeback reason code, the product purchased, the cardholder’s claims, the type of transaction processed, etc. There are dozens of reasons why cardholders and issuers dispute transactions. Your first step is to identify the chargeback reason code, which is a kind of shorthand that indicates why the transaction is being disputed. many chargeback reason codes that exist today. A TC40 data claim occurs when a customer makes a fraud claim against a merchant. Understanding these codes can help merchants understand why chargebacks are being filed and how to prevent them in the future. Check with the issuing banks to determine what time limits may apply to you. The actual underlying cause of this chargeback is usually either true fraud or friendly fraud. This ranges anywhere from roughly 60 to 90 days after purchase. To submit your documents to Wave, use the link in the chargeback notification email, or reply to the email. Card issuers and card networks deem certain chargeback codes to be nearly indisputable by merchants, and as a result, a merchant can be charged a fee of up to $500 by card networks for submitting a dispute of such chargebacks. the chargeback reason code. Chargeback reason code 98 was used to describe any exception that fell into that category. Despite being the smallest of the four major credit card companies, the list of Discover chargeback reason codes is extensive. Pre-compliance chargebacks are an alternative way Visa helps to resolve situations where there has been a violation of the internal network regulations. Visa, MasterCard, and American Express all list compelling evidence by reason code. Every of the major card brands, the inclusion of Visa, MasterCard, and others, has its acknowledged system of reason codes. The length and structure of Reason Codes changed from a current two-digit code to four to six digits that contains decimal(s) point(s). M49 Vehicle Rental – Theft or Loss of Use. Clearing. A chargeback is the potential outcome of a disputed credit or debit card transaction. Visa groups its chargeback codes into four main categories—fraud, authorization, processing errors, and customer disputes. Bank of America issues both Mastercard- and Visa-branded cards, so the exact requirements may vary depending on the Mastercard reason code or Visa reason code . The post below contains legacy information pertaining to the formerly-common Visa chargeback reason code 75. When a customer who's enrolled with 3-D Secure from their bank initiates a purchase, the tool will deploy during the checkout. For details on how to receive notifications of chargebacks, accept or dispute them, and submit evidence to. You can see a reason code 11. And according to The True Cost of Fraud report by LexisNexis, businesses end up paying $3. Under reason code 85, the minimum transaction amount required to initiate chargeback should be at least $25. American Express: Reason Code C08 Goods or services. Click on “report a problem” and select the transaction in question. This chargeback reason code is also referred to as “Point-of-Interaction” Errors. Which is meant to know the reason for the dispute. . 1 and Note on page 14 Chapters 1 and 2 Chapter 1 1. A “No Authorization” code chargeback can also be the. 6, "Chargeback Reasons" Added requirements for each Chargeback Reason code. 98: Good Faith Collection: Other: NO: YES: VISA: 99: Pre-Compliance: Other: NO: YES: Card Type Reason Code Reason Text Chargeback Category. For that matter, fraud prevention tactics such as AVS and CVV can be bolstered by adding advanced safeguards like 3D secure, automated transaction scoring, fingerprinting, and device ID tools. A08 Authorization Approval Expired. Click below to request a free demonstration, and we’ll create a customized report showing exactly how much ROI you can expect. chargeback: The buyer filed a chargeback with the credit card issuer. If you leave this processing. 4853 – Cardholder Dispute – Credit Posted as a Purchase. For first chargebacks, Mastercard currently only has 9 reason codes in use, with a few others in the process of being phased out. About Us; Careers We're hiring! In The Press; Latest News; Events; Corporate Responsibility; Brand Resources; Contact Us. There are also specific return time frames, which can differ. Depending on the chargeback, the required evidence might consist of transaction receipts, particular authorization response codes, proof of delivery, correspondence with the customer, or any number of other specific documents. This will be referenced in the chargeback notice you received. 3: Goods or services were not received: C08: RG: 4855: 13. 3 is part of an updated and expanded revision of the legacy codes that indicated fraud, codes which were phased out under the Visa Claims Resolution initiative. The agency must provide this documentation to Vantiv (via mail, fax, online/scanning) within 30 calendar days after the report date on the Visa/MasterCard. Now, compliance cases go through Visa Resolve Online (VROL). 2. Betty's issuing bank assigned chargeback reason code 10. Read the Chargeback Advice letter carefully. It’s important to look up the code to understand why a transaction, good, or service was disputed in order to properly present a solid case to win the chargeback. non_receipt: The buyer claims they didn't get the goods or services. Cardholder Disputes. 3. Visa categorizes these types of disputes as “first-party misuse” under their reason code 10. Required Authorization Not Obtained. It’s even more frustrating if you don’t understand what the chargeback code means. Use this guide as a quick resource for Visa chargeback reasons at a. Suppose the majority of reason codes that your business gets are non-fraud-related, and you lost. 26% - the number of chargebacks that result from undelivered orders. Each of the major card brands, including Visa, Mastercard, and others, have their own system of reason codes. CHARGEBACK REASON CODESChargebacks. What are chargeback reason codes? Issuers send chargebacks to the merchant’s acquiring bank with a reason code to communicate what caused it. Ineligible Transaction (International only) 79. Learn more about Mastercard chargeback reason. In order to fight a chargeback effectively, however, you'll need to know the reason code. STEP #7: Bank Review & Decisioning. processed the transaction correctly. This is commonly caused by either true fraud or friendly fraud. 6:. M10 Vehicle Rental – Capital Damages. When a customer who's enrolled with 3-D Secure from their bank initiates a purchase, the tool will deploy during the. Visa chargeback reason code 75 is filed as an honest mistake. 4- Fraud Trans was received for an order and challenged by the merchant. Discover: Reason Code 4755 Non-receipts of goods or services. Assemble Your Evidence. The. What is Visa chargeback reason code 13. Here’s a comprehensive list of Mastercard chargeback reason codes that you might see on your screen: 4807: Warning Bulletin File. We also included the reason code descriptions and an indication of when the allowable time frame begins. This return reason code may only be used to return XCK entries. Chargebacks911 can create a customized solution to fit your specific business. Other reason codes address entirely understandable reasons for cutting a merchant off from their credit card processor, like participating in money-laundering schemes, colluding with other merchants to fix prices or. Code 10. Visa reason code 53 is used for Chargeback for Defective/Not as Described, and reason code 85 is used for Credit Not Processed. 4853 – Cardholder Dispute – Goods or Services Not as Described or Defective. Here is an overview of how the general chargeback process works with most major processors (we’ll get into how Square does it down below) Step 1: A purchase occurs. These symbols stand for reasons why a financial institution may file a credit card chargeback from their client’s name. The assigned chargeback reason code outlines why a customer submitted the dispute. Eventually the existing chargeback reason codes won't be used and will be removed from this guide. Updated Disputes/Chargeback Policy Coming April 2024Section5. Chargeback Reason Codes; BIN Lookup; ROI Tool; Company. So don’t spend another second worrying about chargebacks. Following the prompts that pop up, inform PayPal of every detail, and include the screenshots of the conversations you had with the scammer. The Visa chargeback reason codes system underwent a major overhaul in April 2018 as part of their new Visa Claims Resolution (VCR) initiative. 5 Ways I’m Using AI to Make Money in 2023. -0.