Quote:
Originally posted by psyko514
I work for TD Visa customer service. The Visa section of the bank.
When a TD Visa cardholder wishes to chargeback a transaction, they call me.
When I see a single charge of less then $25, I write it off.
The issuing bank does not get a cut of the fee. In fact, a chargeback costs the issuing bank an average of $25 (when you factor in things like employee salary, paperwork, potential loss of clientele, etc) which is why we write off charges less than $25.
On top of that, if the acquirer brings the charge to arbitration, the issuer could end up paying upwards of $500.
For the record, I have nothing but respect for you and what you've done in the industry. I push your programs. But if you doubt that I work for Visa, I'll make you the same offer I made Kimmykim when I first joined GFY: Feel free to call me tomorrow @ 1-800-9TD-VISA. Ask for Matthew at extension 23141. I'll be replacing a supervisor from 4pm to 12am EST.
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You obviously don't know the internal billing system for bank's chargeback fees, the issuing banks do receive money for this. I'm not trying to argue with you but McDermott, Will and Emery, one of the largest Law Firms in the world got this information from Visa for the GIA a couple years ago, it's not something that's publicized as proven by you not having that knowledge......