Navigating the world of online transactions can sometimes get tricky, especially when it comes to understanding the nuances between refunds and chargebacks. Let’s clarify these terms to help you manage your CopeCart transactions more effectively.
Refunds: The Basics
A refund is initiated when a customer asks to have their money returned for a purchase made. Here’s how it works on CopeCart:
Initiation: A customer requests a refund.
Process: Our team reviews the request and, if appropriate, approves it.
Finality: Once a refund is processed, it is final and the funds are returned to the customer.
It’s important to remember that a processed refund cannot be reversed.
Chargebacks: A Closer Look
Chargebacks are a bit different. They occur in the following ways:
Dispute Initiation: A customer disputes a charge directly with their bank.
Withholding Funds: The disputed funds may be withheld from us during the resolution process.
Your Involvement: In such cases, we’ll contact you for help in providing evidence to the bank.
Resolution: The bank will make a decision based on the evidence presented, determining whether the dispute is resolved in favor of us or the customer.
Click to learn more about our Dispute resolution process.
Chargebacks are a more formal process and involve the customer’s bank as an intermediary.
Need More Information or Assistance?
If you have any questions or need further clarification about refunds or chargebacks, our dedicated CopeCart US Support team is here to assist you. Don’t hesitate to reach out to us at help@copecart.com for any help you need.
We hope this explanation makes the distinction between refunds and chargebacks clearer!