Have you ever received a damaged product? Was your restaurant experience terrible? Did you not receive the product you ordered at all? What if your travel plans change due to an emergency and the travel supplier is completely uncooperative?
Initiating a chargeback is the first step to recovering your hard earned money. Given the fact that all financial institutions rely on varying cardholder agreements and offer many different benefits to cardholders, it is important that you verify with your financial institution what their rules are for chargebacks and that you request a list of benefits for your card which may assist you.
Initiating the Claim - Form of payment
If payment was on credit, you will need to make an immediate, detailed, and concise chargeback complaint to your issuing bank.
If payment was on debit, you will need to check with your financial institution to determine what, if any, chargeback coverages/protections may apply.
Typical Steps of a Chargeback
During the chargeback investigation you may withhold payment on disputed charge and/or it will be credited to your account (the disputed amount cannot be applied against your credit limit).
Related Attorney Generals Regulation