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Online security » Protect your Business » Protect your business from chargebacks

How does a chargeback affect my business

  • First of all every charge back takes mony from your pocket. Not only have you to pay the client back, but also fees are deducted from your account. And usually fees for Internet transactions are higher.
  • Your bank may "freeze" all of your money in credit card deposits and keep them "locked " for up to one year, which means a great loss for your business capital, and may lead to bankruptcy.
  • In some severe cases you may even loss card-acceptance privileges.
  • Your merchant account could be canceled in case your charge back percentage is about 1% or mere of your total sales.
  • Great difficulties are encountered to get a new merchant account in case your previous one has been terminated.

REMEMBER!
A chargeback affects you and only you, the merchant. Take steps to prevent your business from chargebacks!


 
 

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