Quote:
Originally posted by DragonAss
Are you suggesting that the acquiring banks make money here or the $30 chargeback fee merchants pay goes entirely to the issuing bank (which covers their $25)? That would still leave a $5 profit for someone... if we're to believe they have $50/hr employees handling 30 minutes of paperwork. I can't see the paperwork taking more than 15 minutes personally, especially for these small-ticket items, but perhaps there's more to it than the 1 to 3 pages I'm sent.
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there's definetly more to it than 15 mins of paperwork. i personally get paid 15$ an hour. a typical chargeback call takes me close to 10 mins, which is slightly over $2 for my time alone. i initiate the chargeback, and it then gets assigned to a chargeback agent who is in charge of that case. anything to do with the chargeback is handled by that specific agent (who is making upwards of $20/hr). this includes receiving and looking over faxes, scanning them for archives, contact the cardholder if there are any problems (fax/letter illegible, missing information, past the time limit, etc). another phone call to the cardholder can take anywhere from 5mins to 30mins depending on how much of an asshole he is. then there's the paperwork that has to be filed, letters that have to be sent, the toll free phone bill, the toll free fax machine, etc. it all adds up.