A chargeback is a way for you to attempt to reclaim your money back when you do not get the goods or services you paid for, including if the retailer or supplier has gone out of business. The bank that issued your card attempts to reclaim the money from the retailer’s bank on your behalf.
Chargebacks are not a legal right, but if you have paid with a Visa debit or credit card, you can speak to the bank that issued your card about whether this option is available, and they can then put in a request to the retailer’s bank. This is relevant in a number of circumstances, including:
- Quality of goods were not as described or defective
- You are mistakenly charged multiple times
- A company you booked with goes into administration
- You don’t receive the product or service you paid for
Note there are terms and conditions associated with the time in which you can request a chargeback.