A01 | A02 | A08. For scenario A, send an echeck sale transaction with the following data: routing_number=064000101. Spot these types of chargebacks using. Visa, Mastercard, and other leading card companies each have their own respective set of codes for this purpose. 7. Additionally, Amex uses a fifth "Miscellaneous" category. Then they instruct the merchant’s acquiring bank to reverse the transaction and withdraw the funds from the merchant account. 3. Fight; Prevent; Get; Assets. It is a valuable resource for anyone involved in the payments industry. Chargeback Reason Codes Retrieval Reason Codes 78 Int'l only Service Violation Code Discover 4541 AP 4586 AW 4755 RG 4553 RM 8002 RN2 Altered Amount Non-Receipt of Goods or Services0Cardholder Disputes Quality of Goods or Services MasterCard;45 Days from the central processing date of the transaction120 Days from the central processing. txt) or read online for free. A reason code or a chargeback reason code is a string of symbols (numbers and letters). As chargeback time limits get shorter and shorter, automated technology will become more and more valuable. Specify the invoice date and net due date that you want the system to assign to chargebacks. Read the Chargeback Advice letter carefully. Visa. It is subject to change and may not include every currently known dispute reason code. Chargebacks911 offers the most comprehensive chargeback management system available, backed by the industry's only performance-based ROI guarantee. A double refund chargeback occurs when a cardholder requests a refund for a transaction, then files a chargeback for the same purchase. Additionally, Amex uses a fifth "Miscellaneous" category. To win a chargeback dispute as a merchant, you must have evidence that is compelling enough to persuade the cardholder’s bank to reevaluate the case. paper processing and mailing costs. Batch chargeback process. 4 Other Fraud Card Absent. In 2021, 43 percent of companies identified customer service delays as a top reason for their increase in chargebacks. Previously, Visa expected the disputing member to start the dispute by filing a pre-compliance chargeback under reason code 98 (now obsolete). ”. As soon as a customer requests a chargeback, their bank will reach out to the business’s bank and give them a heads-up that the chargeback has been requested. Attachment A: Copy of the customer's transaction on xx/xx/xxxx using a credit card ending in XXXX. Chargeback Reason Codes by Mesh - 2023 Guide. Over the last three years, so-called friendly fraud has become the number-one source of fraud as reported by merchants are forced to deal with. 2: Canceled Recurring Transaction, and those disputes would still go through the normal chargeback process. A chargeback reason code can offer merchants a lot of information, including which chargebacks you should fight and how to rework your return policy. C02 | C04 | C05 | C08 | C14 | C18 | C28 | C31. The other two chargeback reasons can be traced to very obvious causes — criminal activity and merchant mistakes. Step 1: The cardholder disputes a charge. It covers topics such as chargeback rights, time frames, reason codes, arbitration and compliance. When one cardholder initiates a dispute with their issuing bank, a. Visa recently shortened chargeback time limits from 45 days to 30. These can be classified into three types of chargebacks. The bank or credit union then conducts an investigation to ascertain the validity of the dispute. In some cases, errors can be resolved and reversed, but there is no equivalent to chargeback representment when it comes to ACH. EFM MONTHLY CRITERIA NUMBER OF E-COMMERCE TRANSACTIONS FRAUD CHARGEBACK AMOUNT FRAUD CHARGEBACK RATIO BASIS POINTS (BPS) 3DS UTILIZATION (EMV 3DS + DATA. This includes: Chargeback ratio. People request chargebacks for all kinds of reasons—some sinister (like friendly fraud), some because the item they bought never arrived. This extra step can be frustrating for Card Members and lead to lost sales. A chargeback is a transaction reversal resulting from a credit card payment dispute. Promo abuse can refer to any situation in which customers take advantage of a business’s promotional offer, in a way which was not intended by the merchant, for the purpose of monetary gain. message. 265. For example, the dispute reason “Cardholder Does Not Recognize” is denoted under the Discover reason codes system as “AA. Solutions. Code structure. Discover. 4 Funding Process. Spot these types of chargebacks using the below reason codes. Discover Chargeback Reason Codes Explained. Documentation must be a direct result of cardholder communication. FR2: Fraud - Full Recourse Agreement: 120: The actual underlying cause of this chargeback is usually either true fraud or friendly fraud. It was originally just one facet. This ranges anywhere from roughly 60 to 90 days after purchase. Aforementioned definitive guide includes and chargeback reason codes from each of the four major bill networks. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. There are dozens of reasons why cardholders and issuers dispute transactions. A credit card chargeback is when a bank returns money to you because a credit card charge was fraudulent or you bought something online that wasn’t delivered or was. Jan 2020_Chargeback Reason Code Encyclopedia - Free download as PDF File (. Reason Code 03. Amex uses the same four main categories as Visa to organize its reason codes: Authorization, Card Member Disputes (which Visa refers to as Consumer Disputes), Fraud, and Processing Errors. 2. Each card scheme has its own time limits for chargeback disputes, which can range from 60 to 120 days from the transaction date. Get started . Signifyd’s Revenue Protection solution offers fraud screening services to help merchant subscribers protect against fraudulent or unauthorized activity with respect to certain e-commerce transactions, as classified by the applicable card processor’s chargeback reason codes and categories specified below. Reason Code. The actual underlying cause of this chargeback is usually true fraud or friendly fraud. Fight; Prevent; Recover; Resource. FAQ: What is Chargeback Representment? TIPS. Moreover, there are other two categories to handle the Amex chargeback: inquiry and chargeback programs. While the updates have been published, they do not go into effect until Oct. Fight;. Consider Deadlines. MasterCard chargeback reason code 4540. FAQ: What is Chargeback Representment?. You can see a reason code 11. ABELLA, Petitioners, - versus - MADELINE C. Chargeback . Responding to a chargeback request. Know Which “Compelling Evidence” Is Required. Chargeback Reason Codes by Network - 2023 Orientation. Availability Date: October 24th, 2021. A service chargeback is filed by a customer, which means that you need to note the card type and dispute reason code so that you can determine which types of information to submit if you dispute the claim. Today, Visa expects members to communicate through VROL and try to resolve their. pdf - Free download as PDF File (. 2. Pay Attention to Reason Codes. Chargeback Reason Coded by Network - 2023 Guide. 634. But these are the minority of all transaction disputes. Cancelled/Returned by Cardholder. And according. Mastercard uses reason code 4842 for late presentment chargebacks, but the conditions are considerably more complex. Chargeback Reason Codes and Descriptions. Supporting Documents You could potentially reverse a Chargeback by providing the. The charge was flagged by the Amex Fraud Full Recourse Program. What Are the Time Limits for Mastercard Chargeback Arbitration? Starting from the date the chargeback representment was filed, issuing banks have 45 calendar days to file a pre-arbitration. Valid Values/Format: 22 - First Chargeback Handling Fee. This definitive guide comes that chargeback reason codes from jeder of of four majority card networks. Such definitive guide includes the chargeback reasoning codes from each of and four major card networks. A chargeback is the potential outcome of a disputed credit or debit card transaction. When you get a chargeback, it means that the funds from a completed transaction are being taken out of your merchant account and returned to the cardholder. e above 0. 2. Reason codes. Mastercard also considers some chargeback reason codes to be indisputable. Discover chargeback reason codes are divided into. Reason Code; Ref Number ; Auth Code; For a brief overview of chargeback reason codes, refer to the table below. If a criminal manages to defeat the technology and complete an online. Reason Code 53 Re-presentment Conditions. 105. This can. The process is often troublesome; most times, reason codes do not show the actual basis why customer is disputing a transaction. The major card networks have unique reason code systems, and banks use separate tools. See full list on chargebackgurus. 4: Other fraud: Card-absent environment: VCR Dispute Reason Code 13. When a cardholder disputes a charge, their issuing bank will review the transaction and decide if. compliance process depending on whether a chargeback right exists. manual processing by uploading chargeback documents instantly. Once you know why a chargeback happened, you can start building a case to address the claims that were made. In simple terms, an Electronic Commerce Indicator (ECI) is basically a 3-D Secure response code. processed the transaction correctly. If the cardholder is using the chargeback process incorrectly — a practice commonly referred to as “friendly” fraud — the information provided to the bank. Vendors that do not have a well-drafted shipping and order fulfillment policy are susceptible to this category of Shopify chargebacks. Protect cardholder data. Refund fraud is a form of first-party transaction fraud. ) and ELISEA B. Reason code 53 is typically used when a cardholder received merchandise or service that was defective, damaged, or not as described, while reason code 85 is used when credit was not processed to the. Mastercard Chargeback Reason Code 71: Disputed Amount. Additionally, one clearing transaction. FAQ: What is Chargeback Representment? TIPS. 3. There are five main categories of Visa chargeback reason codes: Fraudulent Transactions, Authorization Issues, Processing Errors, Consumer Disputes, and Other Chargeback Categories. Code 4807: Fraudulent Card-Present Transaction. FAQ: What remains Chargeback Representment? TIPS. 7: Defective goods and services: C32: RM: 13. Visa’s process introduces four dispute categories and associated numerical labels (Fraud – 10, Authorization – 11, Processing Errors – 12, Consumer Disputes – 13) under which the renamed reason codes will be placed. Here’s how your store can prevent and deal with chargebacks. Solutions. 7 Ways Merchants Win Chargeback Disputes. This definitive guide includes the chargeback reason codes from each of the four major card networks. This reason code means that the cardholder claims that they were billed for lodging services that they had already canceled. This code tells you why the customer or bank initiated the dispute. The issuing bank collects evidence from the customer and categorizes the chargeback using the appropriate, card network-specific, reason code. As we touched on earlier, chargebacks can happen due to technical errors. Click “add filter”. Everything You Need to Know (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. Additionally, Amex uses a fifth "Miscellaneous" category. The first two digits indicate what category the reason code falls under: 10 for Fraud, 11 for Authorization, 12 for Processing Errors, and 13 for Customer Disputes. Chargeback reason code. When you receive a chargeback request, respond promptly with any relevant information or evidence that supports your case. FAQ: What is Chargeback Representment?. Category. [noun]/cē • vē • vē • tö • kōd/. The number of in-person fraud attacks attempted in the UK has dropped by 69% since 2004. Once filed, the merchant generally has 20 days to respond to the chargeback. Reason Code 53: Not as Described or Defective Merchandise. Chargeback fees make up a big chunk of the total costs, so we’re going to take a. So, if a customer files an Amex chargeback, the company has good reason to side with their customer over the merchant. One catch is that CE3. Fight; Prevent; Recover; Technical. This chargeback reason code is also referred to as “Point-of-Interaction” Errors. Merchants who believe they have received an invalid chargeback under reason code FR2 may be able to represent the transaction and reverse the chargeback with the right. Chargeback reason codes vary by the credit card company. They are provided to the merchant by the issuing bank, and they help all involved parties categorize disputes and determine next steps. So the company has more incentive to side with customer during cardholder. 4% of all transactions worldwide are made with EMV chip cards, which has led to a precipitous drop in card-present fraud. Reason code encyclopedia Your comprehensive guide to reason codes, modifiers, time limits, and compelling evidence. Both EFM and ECM measure compliance at the MID level. reasonable and that the transaction did not exceed this amount range. Goods / Services Damaged or Defective. Reason Code Description A01 No valid authorization/excessive amount. 3. This provided a number of insights into the typical. F02. Choose “chargeback and inquiry status” from the drop-down menu. Fight; Prevent; Recover; Resources. A CVV2 code is a 3-digit code located on the back of a Visa credit, debit, or prepaid card. You cannot effectively fight chargebacks until you identify which of these three things is actually responsible. reason codes. This code applies when valid authorization for a transaction was required but not obtained, and the merchant processed the transaction anyway. MasterCard: Reason Code 4859 Services not rendered. Chargeback reason codes. Enterprise;. 4 Section . Choose the representment amount. This definitive guide comprise which chargeback reason encrypted with apiece of the four greater bill networks. Chargeback Reason Key by Network - 2023 Guide. By entering your email, you agree to receive marketing emails from Shopify. Whether the CID — the four-digit security code on the front of the Card — matches the issuer’s records. Technical. The aim of CE 3. Understanding these codes is essential because they'll guide your response strategy. Visa chargeback reason code 75 is filed as an honest mistake. But why do they happen? 4 common types of hotel chargebacks. In certain cases American Express may issue an Upfront Chargeback. Below you will find the reason codes for the dispute events Chargeback, Request for Information (RFI), and Notification of Fraud (NOF). Chargeback Reason Codes by Network - 2023 Guide. Following is the list of Chargeback Reason Codes used by American Express (AMEX): AMEX Chargeback Reason Codes. F02. Chargebacks. Home; For Business. A reason code or a chargeback reason code is a string of symbols (numbers and letters). The time limits for responding to a chargeback also vary based on the card scheme and the chargeback reason code. Here finalizing user includes the chargeback reason codes from either of the foursome major card networks. Laundering: The merchant carried out transactions without a legitimate cardholder’s involvement. Chargeback Reason Codes Reason code are the first key to understanding the root causes . The following is an inside and out diagram of reason codes for Visa, MasterCard, Discover & Amex alongside their depiction. Depending on the reason code, supporting documentation may include: Copies of the order confirmation, invoice, or receipt; Proof of. In most cases, the bank chooses a course of action based on information the cardholder provides. Based on the information provided, Paymentology will investigate the transaction being disputed. A01 | A02 | A08. 2 chargeback if you override a declined, referral, or pickup authorization message, but process the transaction anyway. Field name: reasonCode. Chargeback Reason Codes by Industry. Chargeback reason codes are one piece of evidence you can use to make your case. The code is used to help verify buyers during a card-not-present transaction. 1 Chargebacks A chargeback is a rules-based mechanism, with time-sensitive workflows, that enables the issuer and the acquirer to determine the financial liability of a disputed transaction. Let’s say you got a Visa chargeback with reason code 13. Chargebacks were introduced as a form of consumer protection against. It is important to check the time limit in chargeback reason codes because it determines how long a cardholder has to initiate a chargeback after a transaction has taken place. Download PDF . Other reason codes address entirely understandable reasons for cutting a merchant off from their credit card processor, like participating in money-laundering schemes, colluding with other merchants to fix prices or. txt) or read online for free. Luckily, our reason code directory makes is a bit simpler to make sense of issuer codes. Check with the issuing banks to determine what time limits may apply to you. Discover is a credit card network and an issuing bank—just like American Express. txt) or read online for free. S. Reason Code 53 chargeback can be re-presented in one of the following circumstances: chargeback is invalid or a credit was processed. While you obviously don’t want customers to cancel their service, a cancelation is far better than a chargeback. As a merchant, your focus should be on finding and retaining customers--not chargebacks. Amex. The new reason codes follow a format of two digits, a period, then a third digit. Ideally, a chargeback report should contain all of the available data on chargebacks incurred by a merchant. MDR also retired reason code 4840 – Fraudulent Processing of Transactions. A reason code is how banks categorize the reason for a chargeback. You can learn more about each one by visiting the Mastercard Chargeback Guide. A new 4 byte reason code will be used moving forward. Refer to the following list for accepted values in the field chbk_reason_code. Solutions. Consult the applicable network’s guidelines for examples of acceptable compelling evidence. By entering your email, you agree to receive marketing emails from Shopify. This may be done by either the merchant or the issuing bank. When a customer who's enrolled with 3-D Secure from their bank initiates a purchase, the tool will deploy during the. Other Fraud—Card Absent Environment. 2 Compliance CasesOn xx/xx/xxxx, we received a chargeback under the reason code 11. Also, Ethoca Alerts only notify you of chargebacks that occur within the alert. Every dollar disputed represents a loss to the merchant of $3. Chargeback reason code 4837: No Cardholder Authorization applies in situations where customers claim a card transaction was unauthorized, but do not feel the issue can be resolved through the merchant. Step 1: Identify the Source. pdf - Free download as PDF File (. pdf), Text File (. Another thing you should bear in mind is that the card brand involved in the dispute can also change the reason code to suit new developments. Pursuant to the Fair Credit Billing Act of 1974, cardholders have the right to dispute unauthorized or erroneous charges, and issuing banks must reverse a disputed transaction if the cardholder’s claim. Chargeback reason codes can change with new information. Duplicate Processing - 81These codes explain the reason why the chargeback was filed, and the reason the chargeback was approved. 6. In such circumstances, networks like Mastercard may allow consumers to reverse such a transaction by filing a chargeback. . US and Canada. Prevention strategy: Implement EMV chip card technology to reduce the risk of fraudulent card-present transactions. 2. Sometimes, customers get wrongly debited due to manual data entry errors by the merchant’s team. 1: goods not received. Blog and Articles; Success Stories; Chargeback Reason Codes; BIN Look-up; eGuides the Reports; Webinars; Knowledgebase; Online; Partners. The tickets were held at the box office, and no signature, swipe or imprint of the card was obtained when the tickets were released. NIÑA JEWELRY MANUFACTURING OF METAL ARTS, INC. The deadline for a Chase Bank customer to dispute a transaction is 60 days. Select the value “open”. 0) Digital usage logs; ContractsThe reason_code will be one of the following values: chargeback_reimbursement: The gross shows positive if the chargeback was resolved in the seller's favor, and the seller gets a refund. Disputes related to Chargeback Reason Code 93, “Merchant Fraud Performance Program”, are excluded from program monitoring. 4846. The keys to this are improved communication, enhanced customer satisfaction measures, and effective dispute resolution when necessary. We used 3DS to authenticate this purchase and obtained AVS and CVV match codes at authorization (page 2). “Visa has 28 different reason codes. . R03. Chargeback reason codes. 26% - the number of chargebacks that result from undelivered orders. Chargeback reason American Express reason code Discover reason code Mastercard reason code Visa reason code; Cancelled subscription: C28: NF: 4841: 13. A chargeback happens when a customer requests for a transaction to be reversed. pdf - Read online for free. Please refer to chapter 5 for more information. If you get a chargeback,. The price of Order Insight alerts varies, but is often $8-$10 per deflected chargeback. Take the time to note the following dispute reason codes for Visa. Mastercard Chargeback Reason Code 71: Disputed Amount. Issuers must not initiate a chargeback for magnetic-stripe (POS Entry Mode value of 90 or 02) transactions on non-chip enabled cards. Each code corresponds to an issue or problem. FR2: Fraud Full Recourse Program: Inquiry/Miscellaneous: FR4: Immediate Chargeback Program: Inquiry/Miscellaneous: FR6:. com Europe. Dec 6, 2021 — Betty's bank issued the chargeback for $9. For a Mastercard late presentment chargeback to be valid, all the following conditions must apply: The cardholder’s account must be permanently closed. Ethoca alerts can prevent chargebacks before they hit your bank account. Written to Chargeback Gurus. A chargeback happens when a customer requests for a transaction to be reversed. American Express uses four main categories to organize its reason codes: Authorization, Card Member Disputes, Fraud, and Processing Errors as well as two additional categories, Inquiry/Miscellaneous and Chargeback Programs, to classify just a handful of reason codes. You’ll put that reason code, the transaction amount and authorization number, and state that the. Credit card chargeback reason code: Type: Varchar; Unique: No; Blanks: Yes; Max length: 64 characters; Unique identifier which distinguishes the nature/reason of credit card chargeback reported. These codes will explain why the chargeback was filed. By entering your email, you agree to receive marketing emails from Shopify. What are Chargeback Reason Codes? Chargeback reason codes are issued by the bank when a customer files for a chargeback. Chargeback reason code 11. However, it's advisable to respond to whatever reason code you received from the bank. None, although there is a $0. We would like to submit compelling evidence that the purchase was legitimate. Note: If the system generates a stand-alone chargeback, the G/L offset field is blank. Accessed October 17, 2022. Card Type. Everything else is considered first-party or “friendly fraud,” where the cardholder makes the purchase, then tries to reverse it through their issuing bank. The cardholder may be the customer or the someone who lent their card to a friend or relative. Reason . Supporting Documents You could potentially reverse a Chargeback by providing the necessary supporting Chargeback Reason Codes Retrieval Reason Codes 78 Int'l only Service Violation Code Discover 4541 AP 4586 AW 4755 RG 4553 RM 8002 RN2 Altered Amount Non-Receipt of Goods or Services0Cardholder Disputes Quality of Goods or Services MasterCard;45 Days from the central processing date of the transaction120 Days from the central processing date of. However, for simplification, they are divided into eight categories: Fraudulent activity; Authorization issues;. The following is an inside and out diagram of reason codes for Visa, MasterCard, Discover & Amex alongside their depiction. Here’s how your store can prevent and deal with chargebacks. A chargeback guarantee is a service provided by third-party vendors that protects merchants against the financial impact of chargebacks. the Chargeback. It also has a multiplier effect that extends damages well beyond the amount of the disputed charge in question. Cancelled/Returned by Cardholder: Credit not Processed: FR2: Fraud: Fraudulent Transaction: P08: Processing Error: Paid By Other Means: P17: Request for Information:. Amex Fraud Chargeback Reason Codes FR2 — Fraud Full Recourse Program. We’ve all been there as an eCommerce owner: you excitedly ship out a $1,500 order to a customer, and then a few weeks later you’re notified that the customer has opened a chargeback dispute. Shopify has four status categories for chargebacks and inquiries: Open: No response has been sent yet and evidence can still be added. com you have received an email. 1 alpha followed by 2 numeric digits. Oftentimes, the reason code assignment is based on limited knowledge and insight. Once filed, the merchant generally has 20 days to respond to the chargeback. The following chargeback reason codes are related to EMV: Visa: 10. The customer is claiming that this purchase was not authorized. WEX has repurposed chargeback reason code 10 to indicate EMV chargebacks. AMPERE chargeback happens when a customer disputes a charge from your business and asks the card issuer to reverse it. The post below contains legacy information pertaining to the formerly-common Visa chargeback reason code 75. Products. Chargeback reason American Express reason code Discover reason code Mastercard reason code Visa reason code; Cancelled subscription: C28: NF: 4841: 13. The reason code. Country. Fraud. 4 spec (Section 8. If the merchant has a signature showing that the order was delivered, or evidence that the. Scenario 1 — upfront chargeback. 1: Services not provided or merchandise not received: VCR Dispute Reason Code 13. All chargebacks start with a customer making a purchase in person, in an app, or online. Vantage HouseChargeback Reason Codes Card Type Reason Reason Text Chargeback Category Preventable Reversible Code DISCOVER 4502 IC-Illegible Sales Data Request forConsider using all the tools available to you—including Visa Secure, card security code (CVV2), and Address Verification Service (AVS). The external reason/chargeback codes are converted to internal reason codes and are populated on the incoming (payment) AR document. The other member could accept the chargeback or contest it, escalating the dispute to compliance where Visa adjudicates. A01 Charge amount exceeds authorization amount A02 No valid authorization A08 Authorization approval expired Cardmember Dispute C02 Credit not processed. 4808 Authorization-Related Chargeback. Late Presentment Rules: Mastercard. 4. The network hasn't wholly disallowed some old codes. The sales receipt and/or date and amount of the authorization if other than the transaction date. Accessed October 31, 2022. You’ll see that all chargebacks ultimately stem from one of three causes: merchant error, criminal fraud, or friendly fraud. Written to Chargeback Gurus. About Discover chargeback reason codes. EMV Liability Shift Non-Counterfeit Fraud. 1 Quick Reference Lead. If the order was genuinely not as described, then the cardholder has a case. Reason Code. You must tailor your representment case — including the compelling evidence — to the reason code under. What are Chargeback Reason Codes? Chargeback reason codes are issued by the bank when a customer files for a chargeback. 1chargeback_codes. For example, suppose a cardholder filed a case about an order processing issue, and you disputed the chargeback. Reason Code. Preventable Reversible. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Save finalize leaders includes the chargeback good codes off each of the four major card networks. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. This chargeback reason code can be avoided by ensuring that returns are processed promptly and accurately, and that the customer is informed of any credits issued. Once filed, the merchant generally has 20 days to respond to the chargeback. Visa organizes their chargeback codes by categories. AT Authorization Noncompliance. Any time. 5158. This merchant program allows Amex to process disputes as soon as a cardholder files a chargeback. Your first step is to identify the chargeback reason code, which is a kind of shorthand that indicates why the transaction is being disputed. Example: 25. If a customer does not contact eBay and files a chargeback with their issuer, eBay will engage in the chargeback representment on your behalf. Visa assesses the following fines, as specified in the table below, to a U. 101. • Chargeback Reason Code – Each chargeback contains a reason code that signifies the reason for the dispute and the rules that must be followed by the issuer and the merchant in order to resolve the dispute. It depends on the chargeback reason code associated with the dispute. Complete Guide to Visa Compelling Evidence Update CE 3. Timeframe: Under card network rules, a cardholder has up to 120 calendar days from the settlement date to initiate a chargeback (depending on the chargeback reason code). This chargeback reason code was retired by Visa in April 2018. Chargeback reason codes identify the general reason behind a chargeback.