Chargeback is the return of funds to a consumer, initiated by the
issuing bank of the instrument used by a consumer to settle a
debt. Specifically, it is the reversal of a prior outbound
transfer of funds from a consumer’s bank account, line of credit,
or credit card.
With each chargeback, the issuer selects and submits a numeric reason code. This feedback may help the merchant and acquirer diagnose errors and improve customer satisfaction. Reason codes vary by bank network, but fall in four general categories:
Expired authorization, non-sufficient funds, or bank processing errors
Duplicate billing, incorrect amount billed, or refund never issued
Consumer claims to have never received the goods as promised at the time of purchase
Consumer claims they did not authorize the purchase or identity theft
What is a Recall?
“Stainway Financials is an intelligence-gathering firm that specializes in asset recovery, risk mitigation, and claims assessment. We are not a court-appointed claims administrator or class counsel. We contract with licensed investigators. This website is for informational purposes and the services provided by Stainway Financials are not legal services and the protection of the client-attorney relationship does not exist with respect to the nonlegal services. You always have the right to file claims on your own. Except as provided by law or upon the prior written consent of the client, Stainway Financials will not divulge or release to anyone other than its client the contents of an investigative file acquired in the course of licensed investigative activity. For additional settlement information concerning the legal process, you may contact your attorney or the client coordinator.”
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