- What is a chargeback?
- Disputing a chargeback
- Fraudulent payments
What is a chargeback?
A chargeback is a reversal of a credit card transaction that arises from a customer’s dispute or claim of fraudulent activity on their banks end. A chargeback voids a credit card transaction, clawing back funds that were previously deposited into the merchant’s bank account and applying credit to the consumer’s credit card statement.
RentMoola does not initiate or control chargebacks, the credit card issuer does, therefore, the process follows the issuing bank’s policies. RentMoola does not judge the validity of a chargeback, that is the responsibility of the card issuer. RentMoola’s role is simply to collect information about the transaction and help you work with the card company to resolve the chargeback. RentMoola will notify you when a chargeback does occur. If you are notified you can follow the below steps to dispute it.
Disputing a chargeback
To submit your dispute for the chargeback, RentMoola requires the following information before submitting your request to our payment processors:
- Confirmation of your request to dispute
- Copy of lease agreement
- Summary of reason for dispute and events leading to chargeback
- Any other documents or information which will help you win the chargeback dispute (email communication, proof the service purchased was received as agreed to, etc)
The chargeback process is initiated outside of RentMoola, between the card issuer and their cardholder. In a dispute over a chargeback, the decision is ultimately made by the card issuer and we do not have control over the outcome.
To minimize occurrences of chargebacks, RentMoola enables address verification in which no payment method can be saved without a matching billing address and CVV, the security code found at the back of the card.
As with any merchant who accepts credit cards, you are at risk for fraudulent payments. All credit card holders are protected by zero liability which means that if there are any transactions on their credit card statement which they deem does not belong to them, then said transactions will be automatically reversed by the issuing bank (and the funds will be debited from the associated merchant account) until the chargeback process and subsequent investigation is completed.
RentMoola bares no responsibility for fraudulent payments.
Have more questions? Feel free to email us at firstname.lastname@example.org
Please sign in to leave a comment.