What is foreign trade chargeback?
If the bank accepts the transaction, it must refund the cardholder the transaction money. If the seller (merchant) disagrees, the order will be adjusted. The bank requires the seller to submit evidence of the transaction, which will be passed on to the cardholder. If the cardholder disagrees, the payment will still be refused.
At this time, if the seller is dissatisfied, he can apply for third-party arbitration, and the arbitration agency will determine who is right between the seller and the cardholder. If the cardholder loses the arbitration, all costs incurred in the process shall be borne by the cardholder. The bank will also leave a stain on the cardholder's credit record, which will have a lifelong impact on the cardholder's loans, home purchases, car purchases, medical care, work, etc. Precisely because the cost of rejection is relatively high, cardholders generally will not reject payment for normal transactions.
What are the common reasons for foreign trade refusal to pay?
Common chargebacks include:
1. Stolen card transactions. It means that the cardholder's credit card information is stolen, and the card thief uses the cardholder's name to make purchases.
2. The goods are not the same as described. This means that the product received by the cardholder does not match the product purchased previously, such as the style, size, color, etc. are too different.
3. The seller does not ship the goods. That is, the customer paid the money, but the seller did not ship the goods, resulting in the customer refusing to pay.
4. Malicious refusal to pay. The customer has received the product and there is no discrepancy between the goods and the description, but the cardholder still insists on refusing to pay.
This is the end of this issue on foreign trade refusal to pay. If you want to get more knowledge about foreign trade refusal to pay, please pay attention and we will continue to answer your questions~
