- Chargebacks are a forced transaction reversal initiated by a cardholder’s bank that can impact your agreement with a processing bank
- You are typically alerted through USPS, delaying the notification process and leading to less time to solve the issue
- Chargeback Alerts ensure an electronic alert is issued when a bank is notified that a chargeback has been initiated
- Which will allow you to issue a refund or prepare to dispute
- Please note smaller banks may not report to the entities that issue alerts
How can I activate Chargeback Alerts?
- Login to Bankful
- Click on Chargeback Alerts at the bottom of the left toolbar
- Click “Activate Chargeback Alerts”
- Click on “+ Add additional MID”
- Input your “Merchant ID number” and your listed Processing Bank’s “Descriptor”
- This information needs to be precise in order for Chargeback Alerts to function
- Please reach out to your processing bank or agent to ensure this information is correct
- You may also contact us at support@bankful.com
- Once your request is approved, your Chargeback Alert page will look like this:
- You can engage the top toggle button to enable automatic refunds for your chargebacks
- If you incur any chargebacks, they will appear like in the example below
- By clicking on the + sign at the left of a chargeback you can expand the details
- You can also to choose to refund from here
