Charge-back are common form of consumer protection that allow you to get your money back when you make a payment for a service using debit/credit card and somehow you don’t get it.
Charge-back Process
Contacting your provider and explaining your situation.
Filling out a chargeback or dispute form, providing relevant documentation as requested (e.g. purchase receipts, account statements, written cancellation of a direct debit).
Upon receiving your chargeback request, your debit/credit card provider will review it, If approved, your debit/credit card provider will deduct the amount owed from the merchant and credit it back into your account.
When can I request a chargeback?
A chargeback is only available under certain circumstances:
Unauthorised transactions. These include unrecognised or fraudulent transactions that appear on your account, which have not been authorised by you or by an additional cardholder.
Different transaction amounts. If the amount on your account statement doesn’t match the amount on your receipt, you may be eligible for a chargeback.
Duplicate processing. This happens when the merchant accidently charges you twice.
Cancelled recurring transactions. This happens when a recurring transaction goes through even though you have cancelled it.
Faulty or defective purchases. If your purchase arrives with faults or defects or it’s not as described and the merchant refuses to refund you, then you can request a chargeback.
Unfulfilled services. These include services that have been paid for but not rendered. For example, if you booked and paid for a company to clean your home and they never showed up.
Missing or undelivered items. This commonly means that the goods have not arrived.
Missing refunds for returned items. This happens when the merchant has accepted your return, but fails to process the appropriate refund to your account.
In most cases, your bank will advise you to first approach the merchant directly and try to resolve the issue. This is usually effective since most merchants prefer to avoid chargebacks. If approaching the merchant doesn’t work, you can request a chargeback.
Also Read; how to claim money deducted from your bank account
Why was my debit/credit card chargeback denied?
You provided incorrect or insufficient information. This happens if you made mistakes filling out the chargeback request.
If you’ve already been compensated by the merchant, your chargeback will be denied
If it’s too late to apply. Most issuers have specific time limits for requesting chargebacks. You must apply within your card provider’s specified time limit which is between 60 and 120 days from the time of the original purchase.
If the merchant successfully proves the transaction was correctly processed and that all items were delivered to you in good order.
If your debit/credit card chargeback is denied, you can contact the Consumer Protection Department (CPD) of the CBN to dispute this decision. You can lodge an application online and, once received, the CPD will inform your debit/credit card provider of your dispute and offer them 21 days to resolve the matter directly with you. After that, the CPD will begin an investigation. You will be regularly updated about the progress of your dispute.
Please note that these process has been approved and sanctioned by the Central Bank of Nigeria (CBN) and the Consumer Protection Council (CPC).
Download Cbn Guide on Chargeback
Contact the CPD through the following channels:
E-mail: cpd@cbn.gov.ng
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