• Section: Money Guide - Category: Online Business
• Written by Troy Duncan

They lurk in dark places and only reveal themselves under cloak. They are filthy, disgusting, and carry diseases. It is next to impossible to kill them. Roaches!

Nobody claims responsibility for bringing them. Trying to get someone to admit that they have them is next to impossible. People prefer to let them crawl all over them instead of acknowledging and managing them.

Doesn't anyone see them?

Chargebacks! You know those pesky claims made by customers that dispute transactions with their credit card company in order to get their money back.

Yes I'm talking about chargebacks. I'm not afraid to say it either: chargebacks, chargebacks, chargebacks. I'm sick and tired of chargebacks. No more chargebacks!

Why am I the only one who has to digest the cost of chargebacks? Where are the credit card companies? Where is my merchant account processing bank? Where is my merchant account provider?

Beyond stratospheric merc

hant account rates and fees, chargebacks are easily the number one cost to process credit cards. I sat down one day and wondered how much each chargeback is really costing me?

1. Chargeback Fee $35
The chargeback fee is what you are charge every time a chargeback is processed.

2. Retrieval Fee $10
This is a fee charged for investigating a chargeback if a signed receipt is needed.

3. Filing & Review Fee $400
If you take it this far, these fees pertain to the dispute resolution process.

4. Lost Goods $50
On top of the lost sale, too many chargebacks end with the merchant not receiving the refunded merchandise.

5. Fulfillment $30
All of that packaging and postage you used to ship the original delivery and any subsequent return deliveries.

6. Wasted Time $80
This is the time you spent filling out paperwork, sending correspondence, and stressing over what has happened.

The feeling of being taken advantage of: Priceless!

--End--

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