Get definitive guide includes the chargeback reason codes from all of the to majority card networks. Most reason codes apply to any merchant, regardless of what’s being sold. FAQ: What is Chargeback Representment?. Whether the CID — the four-digit security code on the front of the Card — matches the issuer’s records. Refund fraud, sometimes referred to as refund theft or a “whitehouse scam,” involves abusing a merchant’s policies to pursue a refund from a retailer and receive money or other goods without a valid reason to do so. If a dispute is filed with Discover and a ticket retrieval request is sent, the merchant has just five calendar days to respond with. Last updated: October 15, 2019 . Code. Less. Nevertheless, you must respond to the chargeback based on the given code. Products. If a criminal manages to defeat the technology and complete an online. Scenario 1 — upfront chargeback. 2. 0: Changed report name from Downloadable Dispute Report to Case Report. There are five main categories of Visa chargeback reason codes: Fraudulent Transactions, Authorization Issues, Processing Errors, Consumer Disputes, and Other Chargeback Categories. A chargeback reason code is just what it sounds like: A code indicating the reason a charge was disputed and a chargeback occurred. If the order was genuinely not as described, then the cardholder has a case. 2: Canceled Recurring Transaction, and those disputes would still go through the normal chargeback process. Reason codes are alphanumeric codes that provide the justification for granting a chargeback. Clearing. Code. Take, for example, a reason code 4853 chargeback claiming that merchandise or services ordered were not received. Losing Fraud-Related Customer Disputes If the bulk of reason codes your business sees are fraud-related and you lose these chargebacks after submitting compelling evidence, true fraud. Chargebacks. Mastercard uses reason code 4842 for late presentment chargebacks, but the conditions are considerably more complex. Step #2 | Report the Scam to PayPal. About Discover chargeback reason codes. Jan 2020_Chargeback Reason Code Encyclopedia - Free download as PDF File (. Dec 6, 2021 — Betty's bank issued the chargeback for $9. Excessive Chargebacks: The merchant exceeded established chargeback thresholds. There is a USD 25 limit for the First Chargeback (Reason Code 22). Nothing immediately identifies a chargeback as being the result of first-party misuse. account_number= Any account number. The merchant did not receive any returned merchandise. Under the legacy Visa Chargeback system, there are 22 chargeback reason codes (And remember, this is just for Visa. 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. ”. It should ultimately help prevent fraud and unwarranted chargebacks, specifically applying to disputes marked with a Visa reason code 10. 6: Credit not. There are tricks you might use to circumvent an undesirable authorization message, such as not requesting authorization at all, or making multiple attempts on a declined card. For scenario A, send an echeck sale transaction with the following data: routing_number=064000101. These codes can help a merchant with an inquiry or chargeback reversal. Chargeback stands If you don’t reply in time or with the right documentation, the Chargeback will stand. Every of the major card brands, the inclusion of Visa, MasterCard, and others, has its acknowledged system of reason codes. A reason code or a chargeback reason code is a string of symbols (numbers and letters). During this process, the representative of the institution examines the reasons’ list. The 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. A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. It’s typical to see fraud chargebacks roll in 2-3 months after the initial charges took place. Below is a list of Mastercard chargeback codes used in eCommerce. The goal is to reduce ‘friendly’ fraud chargebacks, helping sellers protect more of their hard-earned revenue. Also, remember that the time frame for your response includes any processing required by the acquirer. Reason codes. Chargeback Reason Code. This definitive guide include the chargeback base codes from each away and four more card networks. Chargeback Reason Codes and Descriptions. The merchandise was as described or was not defective. 4. The cardholder initiates contact with their bank or credit union to file a dispute. A08 Authorization Approval Expired. A chargeback reason code is a two- or four-digit alphanumeric code issuing banks assign to disputes. So the company has more incentive to side with customer during cardholder. pdf - Free download as PDF File (. Specify the default reason code to. For example, the dispute reason “Cardholder Does Not Recognize” is denoted under the Discover reason codes system as “AA. Here are the two possible scenarios: 1. Take the time to note the following dispute reason codes for Visa. 4% of all transactions worldwide are made with EMV chip cards, which has led to a precipitous drop in card-present fraud. processed the transaction correctly. The shorthand description is “No Authorization. com 14 The list of chargeback reason codes in this article is organized by card brand and type of dispute. The chargeback process can last from one month to six months. Despite all the rules and guidelines, the outcomes of the chargeback process can be, at times, subjective, and can vary based on the scenario, merchant payment. Click “filter orders”. If you leave this processing. A chargeback reason code can offer merchants a lot of information, including which chargebacks you should fight and how to rework your return policy. This merchant program allows Amex to process disputes as soon as a cardholder files a chargeback. As part of its move to support card-not-present merchants and airlines, Visa made changes to the compelling evidence requirements for four key reason codes: Reason Code 30: Services Not Provided or Merchandise Not Received. Reason. In both instances if the Merchant wishes to withdraw from an arbitration case, Visa will charge the amount of 500. Identify the type of transaction, such as card-not-present, and use appropriate codes for identifying transactions as e-commerce, telephone order, and Mail order during settlement process and authorization. This authoritative guide includes the chargeback reason key from each from the four major card netz. 0. What are Chargeback Reason Codes? Chargeback reason codes are issued by the bank when a customer files for a chargeback. “It’s a lot tougher with Mastercard because they only use four main codes. Because of this, banks, merchants, and card networks often classify chargebacks into three distinct categories to determine how they should be approached. Category. Category. Common Point of Purchase: Data stolen from a merchant’s system is used to make fraudulent transactions. Save finalize leaders includes the chargeback good codes off each of the four major card networks. 1chargeback_codes. 1: Use the corresponding dates from the invoice. April 2018_Chargeback Reason Code Encyclopedia. Below you'll find a list of chargeback codes along with an explanation of what each one means, covering both. This includes: Chargeback ratio. Choose the representment amount. Know Which “Compelling Evidence” Is Required. 102. United States. A chargeback happens when a customer requests for a transaction to be reversed. 1: Use the corresponding dates from the invoice. Reason. For more information on these and other updates, check out our complete chargeback reason. Additionally, one clearing transaction. A chargeback happens when a customer requests for a transaction to be. Some crucial examples of specific documents used as compelling evidence are as follows: Delivery confirmation of the order; Conversations with the customer; Verification codes (AVS, Authorization, Card Security Code, 3D Secure 2. Click “add filter”. When you do the math, you are looking at a $5,000 penalty per month, along with a chargeback fee of $15-$30 per chargeback, and all the other associated costs. The Visa chargeback reason codes system underwent a major overhaul in April 2018 as part of their new Visa Claims Resolution (VCR) initiative. Different card networks have different reason code systems. The client will send this dispute to Paymentology’s Global support team via email – [email protected] codes. 3. UA06 Fraud – Chip and PIN Transaction. If the cardholder’s bank accepts the dispute, they will reverse the transaction, taking the funds back from the merchant and returning them to the cardholder. Solution. Reason code Description; FR2: Fraud Full Recourse Program: FR4: Immediate Chargeback Program: FR6: Partial Immediate Chargeback Program: F10: Missing. Representment. account_number= Any account number. This extra step can be frustrating for Card Members and lead to lost sales. Disputes related to Chargeback Reason Code 93, “Merchant Fraud Performance Program”, are excluded from program monitoring. With the implementation of Visa Claims Resolution, reason code 98 eventually became obsolete. In these situations, a merchant’s billing descriptor is simply not recognized by the customer. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. Please refer to chapter 5 for more information. FAQ: What is Chargeback Representment?. American Express Reason Code FR2 - Fraud Full Recourse Program; American Express Reason Code FR4 - Immediate Chargeback Program; American Express Reason Code FR6 - Partial Immediate Chargeback Program; NOTE: If you receive one of the above chargeback reason codes and aren’t aware of being in a fraud monitoring program, contact your payment. This code is used when a cardholder claims that a fraudulent transaction occurred in a face-to-face environment, such as a retail store. 9808 info@chargebacks911. 800. 4853 – Cardholder Dispute – Digital Goods Purchase of $25 or Less. 4. Each chargeback has a chargeback reason code assigned to it, which is a two-digit number that corresponds to the reason the customer is disputing the charge. They only bill customers during a dispute if there is compelling evidence to show the cardholder’s account is in the wrong. Following the prompts. Card Brand Code Description. A risk department can accurately analyze what the issue is with their merchant by seeing the individual reason code,” Cirone explained. Cancelled/Returned by Cardholder: Credit not Processed: FR2: Fraud: Fraudulent Transaction: P08: Processing Error: Paid By Other Means: P17: Request for Information:. Once filed, the merchant generally has 20 days to respond to the chargeback. Once you receive this notification, you have 11 days to submit a response. Like definitive guide involves the chargeback reason laws upon each of the four major cards networks. The usual period that card networks will accept chargeback disputes is up to 120 days from the date of the settlement for the charge. 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. 1=1010,. Try Shopify free for 3 days, no credit card required. The ECI value tells you what to do next in a 3DS transaction — proceed, reject the purchase, or try again. 1 Authorisation . Some credit card companies also include a short phrase describing the code and chargeback. FR2: Fraud Full Recourse Program: Inquiry/Miscellaneous: FR4: Immediate Chargeback Program: Inquiry/Miscellaneous: FR6:. 3. 4798: F30: Fraud Liability Shift. The business has the chance to refute the chargeback. Check the chargeback reason code. Try Shopify free for 3 days, no credit card required. Learn How Chargebacks Work. The Mastercard chargeback reason codes were condensed down in 2016, like the process that Visa just underwent with Visa Claims Resolution. R03. 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. Amex Dispute Codes FR2 Full Recourse FR3 Full Recourse FR4 Full Recourse FR5 Full Recourse M01 Acct Notice - processed Chargeback authorization M02 Acct Notice - processed your credit M03 Acct Notice - processed your credit M04 Acct Notice - debit stands M05 Acct Notice - ch does not agree M06 Fraud - full data stream not provided M07 Rental Room Charges Only that the transaction was either approved online by the issuer or offline by the chip. A magazine by Square . These can be classified into three types of chargebacks. If more data is required, the request will be sent to the Merchant Services provider. up under any number of different chargeback . Chargeback reason code. Step 1: Identify the Source. The card provider then processes this information and determines the. Upfront Chargeback If we determine we have sufficient information to pursue a Chargeback, we may debit your account up front. reason code information. 3: Goods or services were not as described: C31: RM: 13. The first thing you should do when you receive a chargeback notification is to check the reason code that the card issuer assigns to the dispute. Here’s how. . Merchants and Partners can request that Forte remove an account from the "Known Bad Accounts" database by calling Customer Service at 800-337-3060 option 1. Today, Visa expects members to communicate through VROL and try to resolve their. You must tailor your representment case — including the compelling evidence — to the reason code under. These codes will explain why the chargeback was filed. Valid Values/Format: 22 - First Chargeback Handling Fee. 1. Subscribe today to our newsletter and stay up to date with all events coming straight in your mailbox:What are chargeback reason codes? Mike Conway 2021-03-04T20:56:54+00:00. Info Us; In and. The length and structure of Reason Codes changed from a current two-digit code to four to six digits that contains decimal(s) point(s). The external reason/chargeback codes are converted to internal reason codes and are populated on the incoming (payment) AR document. Fraudulent TransactionsThe reason code may not necessarily reflect the actual reason for the chargeback, but you ought to respond to it based on the provided chargeback code. Solutions. In this instance, the cardholder claims a misrepresentation of the order they received, such as a defect, damage, counterfeit, or incomplete merchandise. About American Express chargeback reason codes. 1. What are chargeback reason codes? Issuers send chargebacks to the merchant’s acquiring bank with a reason code to communicate what caused it. Technical. Request for Information. Time to respond: 20 days from date of chargeback. Ethoca alerts can prevent chargebacks before they hit your bank account. Reason codes for the chargeback with detailed explanation of what it means, how to dispute the chargeback, and how to avoid future disputes. A chargeback reason code is a 2-to-4-digit alphanumeric code given by the issuing bank tangled in a chargeback. Visa requires processors and banks use to this system for multiple tasks, including challenging initial chargeback results. Across open networks and include account numbers sent over email, instant messaging, text, or chat. If you've determined the chargeback is meritless, and you know the reason code, below are the five stages of an effective chargeback representment. Amex. What are reason codes?. 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. In short, chargebacks are costly. txt) or read online for free. Chargeback Reason Codes by Network - 2023 Guide. In addition to Reason Codes changing as a result of the VCR program, each Reason Code is now associated with a new Reason Category. Assemble Your Evidence. People request chargebacks for all kinds of reasons—some sinister (like friendly fraud), some because the item they bought never arrived. The following is an inside and out diagram of reason codes for Visa, MasterCard, Discover & Amex alongside their depiction. In short: yes. You must submit your response packet prior to the expiration date that is set by your payment processor, some of which only allow 5-10 days to respond to a chargeback claim. C08 - Goods or Services Not Received or Only Partially Received F29 - Card Not Present How to Respond One of the following must be provided in your response: Evidence that. Discover: Reason Code 4755 Non-receipt of goods or services. Here’s how your store can prevent and deal with chargebacks. 4: . 'luhfw fruuhvsrqghqfh wr wkh dssursuldwh hpdlo edvhg xsrq wkh uhdvrq frgh ri wkh lvvxh olvwhg ehorz <rx pd frpelqh lvvxhv iru gliihuhqw uhdvrq frghv lq wkh vdph fruuhvsrqghqfh rqo li wkh hpdlo ghvwlqdwlrq lv wkh vdph <rx pd. 4. Poor order shipping: Not shipping goods or delivering services as promised, shipping to the wrong address, or not making the goods available. 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. UA05 Fraud – Chip Counterfeit Transaction. Consider Deadlines. [noun]/* kə • stə • mər • di • spyo͞ot/. A few other common reason codes for Visa include late presentment; non-receipt of cash from ATM; invalid data; EMV liability shift non-counterfeit fraud; no authorization; canceled merchandise and fraud related to stolen cards on the card recovery bulletin. But friendly fraud is much more ambiguous. Here are seven ways ecommerce merchants can increase their chances of winning chargeback reversals: 1. Visa chargeback reason codes are used to categorize the reasons for a chargeback. 105. These processing options activate the automatic write-off feature and enable you to establish write-off limits for both under- and overpayments. As a merchant, your focus should be on finding and retaining customers--not chargebacks. The chargeback reason code. . Change of Chargeback Reason to an Authorization-related Chargeback Replace ‘Change of Reason within the Cardholder Dispute Chargeback’ with this section. Chargeback reason American Express reason code Discover reason code Mastercard reason code Visa reason code; Cancelled subscription: C28: NF: 4841: 13. Get started . Fine Period - month 2 or 3. Reason Text. txt) or read online for free. Discover uses unique codes to explain those reasons to merchants. 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. You’ll put that reason code, the transaction amount and authorization number, and state that the. ”. Blog additionally Articles; Success Stories; Chargeback Reason Keys; BIN Look-up; eGuides and Reports;. To avoid this, issuers can identify their chip cards using the Service Code field with a first byte value of 2 or 6. Here are the most common chargeback culprits. 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. Like traditional chargeback reason codes, an ACH return code indicates why the RDFI initiated the transaction reversal request. Download PDF . It’s not unusual for a customer to ask you for a refund. Betty's issuing bank assigned chargeback reason code 10. 2: Cancelled recurring transaction: VCR Dispute Reason Code 13. You should maintain dispute templates for each reason code and include your intent to fight the chargeback and why. Chargebacks are a major threat to businesses big and small. Responses to retrieval requests that are over 4 pages will. The post below contains legacy information pertaining to the formerly-common Visa chargeback reason code 75. “Visa has 28 different reason codes. Issuers must not initiate a chargeback for magnetic-stripe (POS Entry Mode value of 90 or 02) transactions on non-chip enabled cards. Goods / Services Damaged or Defective. The actual underlying cause of this chargeback is. Each card issuer follows their own standards for defining reason type, code and its format. Solutions4853 – Cardholder Dispute – Credit Not Processed. 6). You cannot effectively fight chargebacks until you identify which of these three things is actually responsible. Reason Code Reason Code North-America Reason Description; 4540: F29: Card Not Present (fraud) The cardholder denies participation in a mail; telephone or internet-type transaction. Reason code 4808 – Authorization-Related Disputes; Reason code 4870 – Chip Liability Shift; Reason code 4871 – Chip & PIN Liability Shift; Reason code 4834 – ATM Dispute; Chargebacks filed with these reason codes are supported by a great deal. 3: Not as described or defective merchandise: VCR Dispute Reason Code 13. Additionally, Amex uses a fifth "Miscellaneous" category. Chargeback reason codes are set by the card networks and used by card issuers to categorize chargebacks. By entering your email, you agree to receive marketing emails from Shopify. Codes are not often shared between issuers which means it can be difficult to remember the details of each. underlying your chargeback. Code structure. The dispute must be one of the following types of reason codes (as identified by the relevant Card Network) listed in. The process is often troublesome; most times, reason codes do not show the actual basis why customer is disputing a transaction. Spot these types of chargebacks using the below reason codes. 102. Get your complete guide to the new Visa reason codes, including all the detailed information, chargeback time limits, and other important information you need. NIÑA JEWELRY MANUFACTURING OF METAL ARTS, INC. Preventable Reversible. Articles; Chargeback Reason Codes;. The tickets were held at the box office, and no signature,. But cardholders and merchants have different time limits. See the list of reason codes below: Card Network. The charge you submitted did not receive a valid authorization approval code for the amount of the charge. The charge was flagged by the Amex Fraud Full Recourse Program. Depending on the code, that could mean gathering proof of authorization, signed receipts, proof of delivery, email correspondence and/or the cardholder’s IP address with transaction date and time for online purchases. 3. Stage 1: First Chargeback. Overall returns (all codes): 15%. Chargeback Reason Codes by Network - 2023 Guide. Field name: reasonCode. Processing Errors involve chargeback and disputes revolving around processing issues, late presentment, credit processed as charge, invalid card numbers, no show errors, incorrect charge amounts. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. A false decline on a credit card or debit transaction occurs when a legitimate card purchase is rejected by mistake. Fight; Prevent; Recover; Technical. Protect cardholder data. If you're contesting a chargeback, you'll need solid evidence. pdf), Text File (. In certain cases American Express may issue an Upfront Chargeback. This can be transaction receipts, proof of. American Express reason code 155, Visa reason code 30, MasterCard reason code 4855, and Discover reason code 4755 are all specific reason codes for Shopify payment chargebacks. If they think it does, they assign it a reason code and credit the funds back to the cardholder’s account. Code 4807: Fraudulent Card-Present Transaction. However, Visa is the largest card brand in both the United States and the world. Fight; Prevent; Recover; Resource. Report. Because it’s so easy for customers to initiate a chargeback, retailers are bound to experience a request at. They also can’t prevent the lost sales revenue and merchandise resulting from a consumer dispute. Having a Lax Attitude Toward Industry Rules & Regulations. Each chargeback is disputed by a specific reason code. 2 chargeback if you override a declined, referral, or pickup authorization message, but process the transaction anyway. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card. Chargeback Category. The actual underlying cause of this chargeback is usually true fraud or friendly fraud. If the dispute involves a non-Visa card, the dispute can be paused for up to 72 hours for the merchant to respond. Visa Chargeback Reason Codes. Reason codes are very crucial to assist. Late Presentment Rules: Mastercard. Chargeback Reason Codes; BIN Lookup; ROI Tool; Company. Blog and Featured; Success Stories; Chargeback Reasoning Codes; BIN Look-up; eGuides and Reports;. Everything You Need to Know (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. Visa ® has launched the CE 3. 103. See the definitions of the various chargeback codes you may receive during the chargeback process. Solutions. When a cardholder makes a purchase, but regrets it later, they may file a chargeback to recoup their money. Mastercard Chargeback Reason Code 70: Chip Liability Shift. 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. Amex Chargeback Reason Code FR2: Fraud Full Recourse Program Description This is a program that allows American Express to send any dispute without first sending. If the CID doesn’t match, merchants generally prompt the Card Member to re-enter it. While there are reason codes related to processing errors that cause disputes, the majority of reason codes result from a cardholder disputing a charge. DD: Unearned (disallowed) discount amount. All cardholder data must be encrypted, truncated, or tokenized; account numbers can only be partially displayed. S. Specify the invoice date and net due date that you want the system to assign to chargebacks. Using the same link provided above, contact PayPal to report the scam. These guarantees typically involve reimbursement for chargeback-related losses or the assumption of liability for chargeback disputes. A chargeback is a transaction reversal resulting from a credit card payment dispute. The good news for those using Shopify Payments, the hundreds of reason codes and buckets them into eight. Chargeback reason code 11. Batch chargeback process. If a customer does not contact eBay and files a chargeback with their issuer, eBay will engage in the chargeback representment on your behalf. All card brands have their own number of codes). Step 2: Customer initiates the chargeback. There are no format changes to the sales file specification; there are additional values added to the sales file to designate chip card transactions. Amazon Pay will send you a notification email when you get a chargeback, which will include details such as the order number and reason code. 4: Fraud—Card-Absent Environment. The chargeback transfers funds from the acquirer to the issuer. pdf - Read online for free. 0 to 5. A “No Authorization” code chargeback can also be the. Reason codes for the chargeback with detailed explanation of what it means, how to dispute the chargeback, and how to avoid future disputes. What are Chargeback Reason Codes? Chargeback reason codes are issued by the bank when a customer files for a chargeback. This list can provide you with a brief detail on the reasons for chargebacks. The other member could accept the chargeback or contest it, escalating the dispute to compliance where Visa adjudicates. If the customer’s story matches. 4763: FR2: Full recourse: A cardholder is claiming that they did not authorise or participate in a transaction that you. 1; Reason: EMV Liability Shift. However, for simplification, they are divided into eight categories: Fraudulent activity; Authorization issues;. Scenario 2. High Level Visa Chargeback Dispute Flow. See full list on chargebackgurus. Upfront Chargeback If we determine we have sufficient information to pursue a Chargeback, we may debit your account up front. Reason code encyclopedia Your comprehensive guide to reason codes, modifiers, time limits, and compelling evidence. 0: Updated report version from 1. Amex Fraud Chargeback Reason Codes FR2 — Fraud Full Recourse Program. 104. Mastercard Chargeback Reason Code 73: Duplicate Transaction. We used 3DS to authenticate this purchase and obtained AVS and CVV match codes at authorization (page 2). This will be referenced in the chargeback notice you received. All online retailers have to deal with at least some false positives. The 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. All chargebacks start with a customer making a purchase in person, in an app, or online. The shorthand description is “Late Presentment. Overview. The business has the chance to refute the chargeback. File a claim and explain why you’re disputing the transaction. Chargeback reason codes. Reason Code Description A01 No valid authorization/excessive amount. 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).