ANyone who cannot stay below 1% cahrgeback has a serious problem and should re-evaluate how they run their business.
the 1% applies to number of transactions, not the amount you made, so if you have 29 chargebacks you better have more then 2900 transactions for the month and if you have 2900 transactions, your making well more then 10k a month (unless your selling memberships for 5$)
and remember, for each chargeback you lose that money, PLUS you get a fine from the bank, my bank is 25$ per CB.
Quote:
Originally Posted by Evil-Dan
Hey Mitch - long time no chat :-)
Can you give us an update on the charge back limitations and currencies then please?
IE - is it still 1% of all transactions for charge-backs?
And if these are for smaller accounts, then does the 1% rule apply anyways if the merchant only does a small number of actual charge-backs
(example - lets say you do $10,000 per month and have a charge-back rate of 2.8%, but you only have 29 charge-backs in total)
I ask this as I am led to believe in Europe that smaller merchants only get noticed once they go over 50 charge-backs per month for either Visa or MasterCard
And on the currencies front, is this for USD only?
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