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Discussion in 'Ask the Meister' started by alef_bet, Jul 16, 2003.

  1. alef_bet

    alef_bet Dormant account

    HI
    A friend of mine got himself into trouble: He had a dispute with the Casino, made a charge back, but now he wants to pay it back. Unfortunately, the CC Company refuses to pay, saying that they did not have the money from the Casino. Now my friend must pay twice: both to the CC Company and to the Casino.
    My question is: Is it possible? As far as I know, after a charge back the casino pays immediately to the CC Company. Am I wrong?
    Thanks
    ALEF
     
  2. jpm

    jpm Dormant account

    As I understand it, the cc company goes and removes the disputed funds directly from the merchant's bank account when there is a chargeback.
     
  3. pokeraddict

    pokeraddict Webmaster

    With my business we have to keep 5% of our monthly CC business in a reserve with our merchant bank for them to take chargebacks out of I'm assuming so they dont get screwed on a big chargeback since they take 60-90 days to come back even though we always know within 60 days what will come that month, obviously my business isnt an internet casino. My chargebacks are only 1% or so.
     

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