The Chargeback Reason is fraud-related and the Chargeback Notice identifies that one of the below chargeback codes (each, an "Acceptable Reason Code") applies: Acceptable Reason Codes. American Express: Reason Code C08 Goods or services. Reason codes vary by card brand. A01 = Charge amount exceeds authorisation amount. ) Visa and Mastercard Chargeback reason codes. There are plenty of reasons as to why this would happen, hence the many. documents before the deadline. Chargeback Reason Codes 85 and 4860 may be caused because the merchant: Did not issue a credit. 3 may be able to represent the transaction and reverse the chargeback with the right compelling evidence. Chargebacks911 offers the most comprehensive chargeback management system available, backed by the industry's only performance-based ROI guarantee. There are four primary phases to a Visa dispute: After Visa. 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 description a01 charge exceeds authorization. The issuing bank reviews the information. Visa Chargeback Life Cycle. By entering your email, you agree to receive marketing emails from Shopify. C08 – Goods / Services Not Received or Only Partially Received. And we have another way to help. 1 Quick Reference Lead. To subscribe and learn more about the free online chargeback management system, or contact Chase Paymentech Client Services at 1. AP –. A Product Not Delivered chargeback means the customer believes they did not receive the goods or services they purchased. The issuing bank collects evidence from the customer and categorizes the chargeback using the appropriate, card network-specific, reason code. For example, suppose a cardholder filed a case about an order processing issue, and you disputed the chargeback. Reason Codes Category 4: Processing Errors. Each code has a different timeline. A02. 3 falls under the “Authorization” category. An XCK entry may be returned up to 60 days after its settlement date. Chargeback Reason Codes Fraud – Card-Not-Present (CNP) Network Reason Code Bank Initiation Timeframe Accel 81 120 calendar days from transaction processing date American Express FR2, F14, F24, F29 120 calendar days from transaction processing date Discover 4752 AA, 7030 UA02 Within 30 calendar days from the close date of the TRRMost acquiring banks put a timeframe on when customers can initiate a chargeback for a purchase. In short: capture is the point at which you get paid for a sale. Reason Code 02. What is Visa chargeback reason code 11. In most cases, you will have 20-45 days in which to respond to a chargeback. All reason codes. Time limits vary by card network and reason code, though, so you should look into the specific terms tied to the reason code. Let’s say you got a Visa chargeback with reason code 13. For example, the dispute reason “Cardholder Does Not Recognize” is denoted under the Discover reason codes system as “AA. Administrative returns (R02, R03, R04): 3%. Braintree Support Articles. FIGHT What compelling evidence is needed to respond? AMEX CODE A08 (Chargeback) CATEGORY Authorization AMEX CODE C02 (Chargeback) CATEGORY Authorization DESCRIPTION Authorization Approval Expired What it means The authorization has expired before the transaction was submitted. If you receive a chargeback under Reason Code 85, you will need to provide evidence that the credit was processed in order to dispute the chargeback. If the merchant has a signature showing that the order was delivered, or evidence that the. About American Express chargeback reason codes. F01. American Express chargeback reason codes are divided into five categories: authorization, cardmember disputes, fraud, processing errors, and miscellaneous. Additionally, Amex uses a fifth "Miscellaneous" category. But research by Javelin found that merchants dispute 43% of all chargebacks and succeed at 60% of those disputes. non_receipt: The buyer claims they didn't get the goods or services. 7: Defective goods and services: C32: RM: 13. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. For a brief overview of chargeback reason codes, refer to the table below. Visa chargeback reason code 75 falls under the “Consumer Disputes” category. See the list of reason codes below: Card Network. This definitive guide includes that chargeback reason colors from each of the four major card networks. 16 Chargeback Reason Code 71 – Declined Authorization. C08 = Goods/Services not received or only partially received. As expected, chargeback reason codes exemplified consumer sentiment. R01 – Insufficient funds. Search the Chargeback Reason Code Database. Documentation must be a direct result of cardholder communication. Reason codes differ by card brand (Visa, Mastercard); a complete list can be found here. Payment capture comes after authorization; at this point, the payment is effectively "settled," and the transaction is over. 2. About American Express chargeback reason codes. This code applies when valid authorization for a transaction was required but not obtained, and the merchant processed the transaction anyway. The newer system is designed to. Each code begins with 'R' followed by a two digit number. C02 Credit not processed; C04 Goods/services returned or refused; C05 Goods/services canceled;Chargeback reason codes tell merchants the reason the customer is disputing a charge, according to the information they provided to their bank. Both EFM and ECM measure compliance at the MID level. The shorthand description is “Goods/Services Canceled. Reason Code 53 Re-presentment Conditions. Here are the two possible scenarios: 1. AMEX CODE A08 (Chargeback) CATEGORY Authorization AMEX CODE C02 (Chargeback) CATEGORY Authorization DESCRIPTION Authorization Approval. Proof you used Address Verification Service to validate. 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. The reason code used to describe the dispute will determine the chargeback time limit. com. Blog and Articles; Success Stories; Chargeback Reason Codes; WASTEBASKET Look-up; eGuides both Reviews;. The list of chargeback reason codes in this article. Once filed, the merchant generally has 20. Chargeback Reason Codes Page 3 of 5. Amex Dispute Codes 2 address the specific dispute reason with the documents you send. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. But cardholders and merchants have different time limits. Please refer NPCI OC- 93 for details. While the updates have been published, they do not go into effect until Oct. Example: 25. Mastercard also considers some chargeback reason codes to be indisputable. Or contact your account manager. This code is used when a cardholder claims that a fraudulent transaction occurred in a face-to-face environment, such as a retail store. There are over 80 unique return codes, and each one represents a different type of return. Reason Code 03. The three-character code notes the specific reason. There are a number of chargeback reason codes that are dedicated specifically to transaction errors. This involves the cardholder’s bank serving as a mediator, rather than eBay. 2. Specifically, it has introduced a Compelling Evidence requirement for disputes falling under the Visa CE/30 chargeback reason code. The shorthand description is “Credit Not Processed. Common reason codes Mastercard. VCR tables (Figures 1 and 2) map the old Reason Code to its new Reason Code. 2 – EMV Liability Shift Non-Counterfeit Fraud. In some cases, errors can be resolved and reversed, but there is no equivalent to chargeback representment when it comes to ACH. A customer payment dispute, more commonly called a “chargeback,” happens when a cardholder disputes (challenges) a payment card transaction and asks the card-issuing bank to reverse it. 1. Section5. Provide Explanation Give a clear overview of the documents you’re submitting, address the specific dispute reason, provide any changes made to the original purchase/agreement and explain the steps you’ve taken to resolve the dispute. 7. Solution. 800. A notification of change (NOC) occurs when the bank sending funds notifies the bank receiving funds that some portion of the once-valid information has changed. It is associated with a chargeback reason code, and it is specific per Card Scheme. This can be transaction receipts, proof of. Reason Code 81: Fraud. A reason code or a chargeback reason code is a string of symbols (numbers and letters). Visa Chargeback Reason Codes • 30: Services Not Provided or Merchandise Not Received • 41: Cancelled Recurring Transaction • 53: Not as Described or Defective Merchandise • 57: Fraudulent Multiple Transactions Know these five rules to avoid payroll blunders triggering fines, penalties and IRS audits. 1. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. AMEX C02 Credit not Processed Cancelled/Returned by Cardholder YES YESAmerican Express chargeback reason code C28 falls under the “Card Member Disputes” category. Nevertheless, you must respond to the chargeback based on the given code. Other Fraud—Card Present Environment. Each code refers to one of the specific rationales that card networks consider legitimate reasons for a customer dispute. Here’s a look at the reason codes for the same scenario from the major credit card companies: Visa: Reason Code 30 Services not provided or merchandise not received. information, including correct routing number, e. How do you use reason codes? A chargeback often has a reason code associated with it. C02 – Credit Not Processed; C08 – Goods/Services Not/Partially Received; Discover. For a Mastercard late presentment chargeback to be valid, all the following conditions must apply: The cardholder’s account must be permanently closed. Get your complete guide to the new Visa reason codes, including all the detailed information, chargeback time limits, and other important information you need. Paymentology will submit the chargeback using the appropriate chargeback reason code. 4853 – Cardholder Dispute – Credit Not Processed. Chargeback Reason Codes for AMEX. Also, just like American Express, Discover functions as both a card network and an. Chargeback Reason Codes 62 and 4862 are issued when a merchant fails to compare the first four digits of the embossed account number on the card with the pre-printed digits below the embossed number for a card-present transaction or receives an authorization without the transmission of the entire magnetic stripe. The reason for the dispute was false or inaccurate. In CIE and The Receiver has indicated to the RDFI that the number with MTE entries, the individual ID number is used by the Receiver to identify the account. Acquirer after the 3-month Workout Period, as described in “Excessive Fraud Activity Notification - U. The Time Frame charts in this guide indicate the reason codes, allowable time frames for chargeback processing and type of chargeback. Visa ® has launched the CE 3. Amex chargeback reason code C02 is applied when issuing bank gets a notice from the cardholder that merchandise was returned, but merchant hasn’t refunded, or credit hasn’t. As we touched on earlier, chargebacks can happen due to technical errors. 45. In most cases, you will have 20-45 days in which to respond to a chargeback. 4. Dispute Condition Description Dispute Condition Code Category Code Category Code Description; EMV Liability Shift: 10. These are all the known American Express chargeback codes. Friendly fraud. 7. Below you will find the reason codes for the dispute events Chargeback, Request for Information (RFI), and Notification of Fraud. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. g. This return reason code may only be used to return XCK entries. 3: Not as described or defective merchandise: VCR Dispute Reason Code 13. have 20 days to respond. Chargeback Reason Codes by Network - 2023 Guide. Fraud: Fraudulent Transaction: P08: Processing Error: Paid By Other. )A chargeback reason code is just what it sounds like: A code indicating the reason a charge was disputed and a chargeback occurred. C02 Incorrect routing/transit number (visible in the SSR eCheck NOC report). Time Frames by Chargeback Type and Reason Code. Click below to request a free demonstration, and we’ll create a customized report showing exactly how much ROI you can expect. Updated: Valid values updated. Reason codes vary by card brand. 6: Duplicate processing/Paid by other means. A few other common reason codes for Visa include late presentment; non-receipt of cash from ATM; invalid data; EMV liability shift non-counterfeit fraud; no authorization; canceled merchandise and fraud related to stolen cards on the card recovery bulletin. R01 – Insufficient funds. All ACH return reason codes consist of the letter “R” followed by two. 1, "Compelling Evidence for goods/services notCode 4807: Fraudulent Card-Present Transaction. Discover. 1: Use the corresponding dates from the invoice. Issued the credit but did not deposit it with its processing bank in time for it to appear on the cardholder’s next statement. Once filed, the merchant generally has 20 days to respond to the chargeback. The terminal action codes are in Table 122 of the 4. C18 – “No Show” or CARDeposit Cancelled. Visa also overhauled its system of chargeback reason codes. UA05 Fraud – Chip Counterfeit Transaction. chargeback: The buyer filed a chargeback with the credit card issuer. 1 – Merchandise/Services Not Received; Mastercard Reason Code 4853 – Goods or Services Not as Described or Defective;. There are many reasons why a chargeback occurs, with over 100 reason codes listed across the major credit card brands. A “No Authorization” code chargeback can also be the. Visa groups its chargeback codes into four. 0. Additionally, one clearing transaction. Some 90% of merchants said “cardholder abuse of the chargeback process” was a leading concern for their business. Chargeback Reason Code . Some credit card companies also include a short phrase describing the code and chargeback. When a customer decides to dispute a charge made to their debit or credit card, it is referred to as a chargeback. 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. The shorthand description is “Transaction Not Recognized. The new reason codes follow a format of two digits, a period, then a third digit. You can attempt to work with the customer on a resolution and potentially have the chargeback reversed. The cardholder was expecting a full or partial credit from the merchant that. Amex Cardmember Dispute Chargeback Reason Codes C02 — Credit Not Processed. Key-in your chargeback reason code and get a detailed explanation of what it means, how to fight the chargeback, and how. These disputes are commonly referred to as friendly fraud. Additionally, Amex uses a fifth "Miscellaneous" category. Reason Codes A chargeback reason code is a distinctive two-to-four-character combination of letters and numbers issued by the involved bank to identify why a dispute was initiated. From there, a merchant can accept the chargeback or take action through the representment process to attempt to have the chargeback reversed. Card Type Reason Code Reason Text Chargeback Category Preventable Reversible VISA 30 Services Not Provided or Merchandise Not Received Non-Receipt of Goods. Valid Values/Format: 22 - First Chargeback Handling Fee. Note. At Visa they used to receive reason code 98. There are multiple situations in which this can occur. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. C02: Due to merger or consolidation, a once valid transit/routing number must be changed. School Yeshiva University; Course Title BUS MISC; Uploaded By KidGorilla7385. Once you receive this notification, you have 11 days to submit a response. France saw a drop of roughly 50% during the same period. This means the cardholder claims that they received goods or services that were substantially different from what the merchant described. * Introducing Compelling Evidence: An updated policy to help ease Disputes and reduce Chargebacks. R02 – Account closed. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Each card issuer follows their own standards for defining reason type, code and its format. 9808 info@chargebacks911. This Return Reason Code is generally used on CIE transactions. 1; Reason: EMV Liability Shift. The good news is that most of these invalid claims are disputable by the merchant. Chapter 6 Pre-Arbitration and Arbitration Case Filing-For Chargebacks Initiated On or After 17 July 2020 > Time Frames and Requirements > Dual Message System Pre-Arbitration andVisa reason code 53 is used for Chargeback for Defective/Not as Described, and reason code 85 is used for Credit Not Processed. Region. Chapter 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; Fraud Filters. Chargeback Reason Codes Retrieval Reason Codes 78 Int'l only Service Violation Code Discover 4541 AP 4586 AW 4755 RG 4553 RM 8002 RN2 Altered Amount Non-Receipt of Goods or Services0Cardholder Disputes Quality of Goods or Services MasterCard;45 Days from the central processing date of the transaction120 Days from the central processing. The new codes, which can be found in our reason code guide, start with a two-digit number indicating which of Visa's four dispute categories it falls into: 10 — Fraud; 11 — Authorization; 12 — Processing Errors; 13 — Consumer Disputes; The Visa Claims. ECM monitors first presentment chargebacks regardless of reason code or transaction type. Credit not processed. Scenario 2. It is important to identify and understand the root cause and take the necessary steps to dispute the chargeback. reason_description: string. What you need to do in such a case is to dispute the transaction and request a chargeback from American Express. Chargeback reason code. A Complete Listing of all American Express Chargeback Reason Codes Prohibited Business Types American Express Tools That Help Prevent Chargebacks. R03 – Unable to locate account or no account. It’s even more frustrating if you don’t understand what the chargeback code means. 4853 – Cardholder Dispute – Goods or Services Not as Described or Defective. Because it’s so easy for customers to initiate a chargeback, retailers are bound to experience a request at. Please note that the most common Chargeback reason code for Allocation disputes is 10. Discover: Reason Code 4755 Non-receipts of goods or services. Photos, signatures, emails and other evidence that will help build your case. Chargeback Reason Codes Card Type Reason Reason Text Chargeback Category Preventable Reversible Code DISCOVER 4502 IC-Illegible Sales Data Request forThe 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. Simplify reason codes; Let’s look at each of these objectives a little more closely. The chargeback system was designed as a last resort; only to be used in specific situations. The reason_description field lists the chargeback reason. 6: Credit not. 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. Each reason code has its own set of regulations regarding: Proper and. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. With that said, you still need to understand the reason codes with any chargebacks from Amex. This reason code is used when a cardholder claims that they canceled a recurring billing transaction but were still charged. While you obviously don’t want customers to cancel their service, a cancelation is far better than a chargeback. 1 Allocation Fraud and Authorization related chargebacks will be processed through an automated workflow. Issuers will not have the ability to submit lost/stolen fraud chargebacks for chip-on-chip (contact or contactless) AFD transactions. However, you’re not alone; they create headaches for many players within the Mastercard ecosystem. In fact, for every dollar lost to chargebacks in 2019, the average merchant lost an additional $2. The CB Reason represents the default reason for marking the transaction as a chargeback, but this default value can be changed. ”. manual processing by uploading chargeback documents instantly. Reason Code 53: Not as Described or Defective Merchandise. Chargeback reason code 11. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. For example, suppose a cardholder filed a case about an order processing issue, and you disputed the chargeback. What stands out about the Discover reason codes list, though, is most of the codes are alphabetically-noted rather than numeric. Card Type Reason Code Reason Text Chargeback Category Preventable Reversible VISA 30 Services Not Provided or. Post Views: 2,142. If the CID doesn’t match, merchants generally prompt the Card Member to re-enter it. Chargeback. 1. Chargeback Reason Codes All received credit card disputes include a reason code. • Chargeback Reason Code – Each chargeback contains a reason code that signifies the reason for the dispute and the rules that must be followed by the issuer and the merchant in order to resolve the dispute. It can protect against criminal fraud attacks, but equally important, it protects you from liability due to fraud and other losses. Investigate suspicious orders. Existing merchant customers: Call us at 1-800-451-5817, 24 hours a day, 7 days a week. Automated Clearing House return codes, reasons, and details. Like traditional chargeback reason codes, an ACH return code indicates why the RDFI initiated the transaction reversal request. Implementing fraud preventing practices and going for illegal chargebacks is the best way to keep the business safe. ) A no-nonsense summary of evidence that proves transaction is legit. Each of the major card brands, including Visa, Mastercard, and others, have their own system of reason codes. Once filed, the merchant generally has 20 days to respond to the chargeback. 1. Chargeback Reason Codes; BIN Lookup; ROI Tool; Company. ACH return code R13 indicates the transaction includes an invalid ACH routing number. M10 Vehicle Rental – Capital Damages. The chargeback can be for the total transaction amount or a lesser amount. [noun]/* kə • stə • mər • di • spyo͞ot/. From a merchant’s perspective, the greatest asset offered by 3DS is protection against liability in the event of fraud. An ACH dispute results in a chargeback for the business that processed the payment. About American Express chargeback reason codes. About American Express chargeback reason codes. many chargeback reason codes that exist today. Solutions. 3 DUE DATEAmerican Express chargeback reason codes, much like Discover, bear one important difference from those under Visa and Mastercard: the issuing bank is also the card network. FAQ: What is Chargeback. When you receive a dispute, a reason code will be assigned by the bank who issued the customer’s card. “Goods Not Received” also jumped to 9% of repudiated transactions as customers attempted to recoup losses for canceled flights. Each reason code has certain standards of proof and evidence associated with it that determine whether the chargeback is valid or not. Discover chargeback reason codes are divided into three categories: service disputes, processing errors, and fraud. Written by Chargeback Gurus. You’re fighting Chargebacks with everything you have. 1 American Express chargeback reason code C32 falls under the “Card Member Disputes” category. If the policy is on the front of the receipt, it should be near the customer signature line. Cause. Because it’s so easy for customers to initiate a chargeback, retailers are bound to experience a request at some. A reason code is how banks categorize the reason for a chargeback. 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). Also, remember that the time frame for your response includes any processing required by the acquirer. AMEX CODE. 1. This provided a number of insights into the typical. Thus, a reason code of one network does not necessarily match with a reason code of another network. Knowing these codes is vital for merchants to understand the reason for chargebacks and how to manage them. Fine Period - month 1 1 Acquirer receives Excessive Fraud Activity Notification 2. Accessed October 17, 2022. Issuing banks follow standard rules to validate a chargeback and then associate it with a specific reason code according to the evidence that was provided. C28 – Cancelled Recurring Billing. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. For this reason, you must document all debit and credit card transactions and adhere to the strict rules set by the card networks. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. Valid Values/Format: 22 - First Chargeback Handling Fee. Fine Period - month 2 or 3. 5158. UA06 Fraud – Chip and PIN Transaction. Cardholder-Activated Terminal (CAT) 3 Device. Take the time to note the following dispute reason codes for Visa. It’s a 3-digit alphanumeric shorthand attached to a returned ACH transaction explaining why an ACH transfer is reversed. Reason Code. These symbols stand for reasons why a financial institution may file a credit card chargeback from their client’s name. 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. MDR also retired reason code 4840 – Fraudulent Processing of Transactions. NACHA Return Codes. That said, looking up purchases using this number can make it easier to provide info following an. Like traditional chargeback reason codes, an ACH return code indicates why the RDFI initiated the transaction reversal request. If you're contesting a chargeback, you'll need solid evidence. For more information on these and other updates, check out our complete chargeback reason. supporting documents that might reverse the. Solution Case Studies Partners Company Blog Resources Data & Compliance FAQ See It In Action. Another thing you should bear in mind is that the card brand involved in the dispute can also change the reason code to suit new developments. The shorthand description is "'No Show’ or CARDeposit Canceled. Everyone has had the experience of buying. 16, 2021. Acquirer after the 3-month Workout Period, as described in “Excessive Fraud Activity Notification - U. Following is the list of Chargeback Reason Codes used by American Express (AMEX): AMEX Chargeback Reason Codes Reason Code: Category: Description: A02: Request for Information: No Authorization: C02: Cancelled/Returned by Cardholder: Credit not Processed: FR2: Fraud: Fraudulent. Categories For Reason Codes. 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. The Fintech Times. How you respond is determined by the chargeback reason code: Embed This Graphic. 41 4841 Cancelled Recurring Transaction 53 4853 Not as Described or Defective Merchandise 57 4840 Fraudulent Multiple Transactions 62 4870/4871 Counterfeit Transaction Being familiar with the potential chargeback reason codes gives recurring6. View the entire list or search for any chargeback reason code. Depending on the reason code, supporting documentation may include: Copies of the order confirmation, invoice, or receipt; Proof of. 10/21/14 Updated Chargeback Time Frames: Added Reason Code 05; Addendum Reason Code PM; Changed TF time frame from 120 days to 540 days. paper processing and mailing costs. Simple Order API; Virtual Terminal; Secure Acceptance - Hosted. 4853 – Cardholder Dispute – Credit Posted as a Purchase. The number of in-person fraud attacks attempted in the UK has dropped by 69% since 2004. R07 – Authorization revoked by customer. For details on how to receive notifications of chargebacks, accept or dispute them, and submit evidence to. The bank or credit union then conducts an investigation to ascertain the validity of the dispute.