Quote:
Originally Posted by kichi
Tomas got back to me and they finally admitted to owing me money. The exact amount is $32,627.00
They explained how my chargebacks were too high and fines from mastercard and visa will most likely eat up all of my $32,627 but they will get back to me in September letting me know.
I know for a fact mastercard and visa will not fine me. Overall cb rate on my account was 1.69%.
Here is what most people do not understand. Visa and MasterCard look at the VOLUME and chargeback rate. If someone does 100 sale and gets 10 chargebacks, then that is a 10% cb rate. I can guarantee you that nothing will happen to that account. It doesn't work like that. Since I was also most likely on an aggregated account then it really wouldn't matter if I had one bad month.
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Also you usually don't get fined if you have excessive chargebacks for just 1 month. Usually you get warnings first and if it keeps continuing you get fines. Also you usually need to be above a certain amount of CBs (I think it's 150 CBs for Visa EU) in a month before it becomes really an issue.