Chargeback Services for Manage Chargeback Reason Code 74

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Chargeback Services for Manage Chargeback Reason
Code 74

• Chargeback Expertz

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Have a look at one particular example Visa
Reason Code 74

• Chargeback Reason Code 74 is expressed when card
  issuer receives a transaction post 30 days limit
  and the account is either closed or blocked on
  the date of chargeback processing date.
• The transactions must be deposited in a proper
  manner that will allow timely payment processing
  and reflect on the cardholders accounts. It is
  established that the cardholder would file a
  dispute and initiate a chargeback on the
  transaction he/she doesnt remember if it is
  outside the time frame and for say, a month old.
  There are no remedies for chargebacks on the
  payments deposited more than 180 days after the
  transaction date.
• Merchants must know the time frame for every
  transaction according to the every processors
  individual terms, but in any case one should not
  wait longer than 180 days.

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Common Causes

• Chargeback Reason Code 74 is issued when the
  merchant does not deposit the sales receipt with
  its merchant account provider within the time
  frame specified in its processing agreement.

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Possible Responses to Reason Code 74

• Respond by providing the transaction receipt or
  other documentation with a transaction date that
  disproves late presentment.
• If sales receipt has been deposited on time, then
  the merchant can contact its processor and ask
  them to forward a copy of the receipt to the
  card issuer.
• If the merchant has not deposited the sales
  receipt within 10 to 180 days of transaction
  date and the cardholders account has been closed,
  then accept the chargeback.
• If the sales receipt was deposited more than 180
  days after the transaction date, the chargeback
  is valid irrespective of the cardholders account 
  status.

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Tips to Prevent Chargeback Reason Code 74

• Here are some guidelines to follow and prevent
  Visa
• Chargeback Reason code 74Deposit the sales
  receipt with the processor as soon as possible.
• Make sure deposits are made within the mentioned
  time limit.
• Capture transaction data with Point of Sale POS
  terminal.

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