What is a Chargeback?
A chargeback occurs when a customer disputes a charge and asks their card issuer to reverse the transaction for a refund. Chargebacks can be challenging for any organization because they are time-consuming, difficult to reverse, and often result in additional fees.
What Happens with Chargebacks?
At CUR8, we dispute almost all chargebacks because we can provide evidence of the transaction. Sometimes, your customers may not recognize CUR8’s name on their credit card statement and assume it is a fraudulent charge. Usually a quick conversation with the customer clarifies that the charge was for a recent purchase related to a local project through CUR8.
How to Help Avoid Chargebacks
There are several ways to reduce the likelihood of chargebacks:
- Communicate Early and Clearly: Keep your attendees informed about the status of your project, any changes, and their options for participation or attendance.
- Clarify Credit Card Charges: Let attendees know the charge will appear as "CUR8" on their credit card statement, not your organization’s name.
- Use Multiple Communication Channels:
- Email attendees about any project changes or cancellations.
- Post updates on social media.
- Use your organization’s website to share up-to-date information.
Taking these proactive steps will help minimize confusion and improve your attendees’ experience while reducing the likelihood of chargebacks.
What if a customer does not reverse a chargeback?
If an attendee chooses to move forward with their chargeback, the organization will be responsible for both the CUR8 transaction fees and an additional $15 chargeback fee.