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How to Initiate an ANZ Fiji Chargeback in 2021
While the ANZ chargeback process may appear to be simple and straightforward, it is important to remember that the ANZ chargeback time limit expires 6 months from the date of the transaction. It is therefore very important to proceed with any ANZ chargebacks and disputes as soon after the transaction as possible. It is also important to ensure that all requirements as set out by ANZ Fiji are adhered to. Failure to submit your ANZ chargeback form correctly could result in a rejected chargeback. Remember, you have one chance at submitting a chargeback and all your information needs to be 100% accurate.
Who are the Participants in the dispute transaction Chargeback Process?
- Cardholder / Customer
The cardholder is the individual that physically owns the bank card which was used in the transaction dispute. The customer is the individual who was directly involved in the transaction. The cardholder and customer are most times the same person, but this is not always the case.
- The Merchant
The merchant is the individual or company who sold the product or service to the customer. When an ANZ Fiji chargeback dispute is raised, the merchant is notified and can either accept the claim or dispute it.
- The Issuing Bank
This is the bank or financial institution that issued the card to the cardholder.
- The Acquiring Bank
This is the bank that holds the merchant’s account that accepts credit and debit card transactions and payments.
- The Credit Card Company
The credit card company is the organization that owns and supplies the credit card. It is the card company that determines the credit card terms and conditions relating to transactions that are carried out by the issuing bank. Major credit card companies include VISA, Mastercard, American Express and Discover.
How to File a Chargeback | ANZ Fiji
The chargeback process may seem like a simple enough task, the problem is ensuring that all the information presented in your case is accurate, factual, and follows ANZ’s rules and regulations. The following steps illustrate how to initiate your ANZ chargeback.
Step 1 – The customer requests a chargeback as a result of a credit card dispute.
Step 2 – The issuing bank reviews the credit card dispute and electronically sends the transaction to the acquiring bank
Step 3 – The acquiring bank receives the chargeback request, resolves the issue automatically or forwards it to the merchant
Step 4 – The merchant either accepts the chargeback request or rejects it by sending evidence to the acquiring bank
Step 5 The acquiring bank reviews the evidence received from the merchant, ensures it meets all requirements before sending it to the issuing bank
Step 6 – The issuing bank reviews the evidence received from the merchant and makes a decision on the chargeback request
Step 7 – The cardholder and merchant are notified of the decision where either party can initiate arbitration in the event that they disagree with the decision
ANZ Chargeback Time limit in 2021
How Long Do I Have to File a Chargeback?
ANZ chargeback time limit typically depends on the card company’s terms and conditions. Generally, cardholders should advise ANZ Fiji within 120 days from the date of the dispute transaction, however, cases can extend up to 540 days and even beyond that with certain card companies. The key for a successful chargeback, however, is to file the request with ANZ Fiji as soon as possible.
What is ANZ Fiji’s Chargeback Fee?
Many people online ask “what is a chargeback fee?” The simple answer is, there should be no fee associated with raising a chargeback dispute as this service is included in the terms and conditions of the contract between the cardholder and the credit card companies.
As the chargeback process is highly complicated and technical, many people contract fund recovery companies that have the necessary skills and experience to present the correct evidence to the banks and credit card companies.
How Long Does the ANZ (Fiji) Chargeback take?
The entire chargeback dispute process can take anywhere from three to six months. This primarily depends on the chargeback reason codes related to the dispute. Card companies and merchants, however, have varying time limits.
How to Raise an ANZ Chargeback Successfully
There are a number of steps that can be followed to increase your chances of success.
ADVISE ANZ BANK
As previously mentioned, filing a chargeback as quickly as possible will increase your chances of success. If your request meets the criteria for a chargeback and you have your evidence properly documented, it should be done as soon after the transaction is made and within 120 days of the transaction for the best chances of success.
UNDERSTAND THE PROCESS
The credit card chargeback process is governed by precise guidelines; documentation requirements, deadlines, and chargeback reason codes. Before you submit your request, ensure you have a proper understanding of the requirements set forth by ANZ (Fiji) and the credit card company.
MAINTAIN ACCURATE RECORDS
Confirm what the exact documentation guidelines are with your credit card company in terms of providing evidence. If your evidence does not conform with these requirements, then your chances of success are very low.
UNDERSTAND THE CHARGEBACK REASON CODES
There are a number of chargeback request codes that need to be submitted with each chargeback request. It is very important to ensure you have the correct code associated with your chargeback otherwise the request will be denied. Remember that you generally have one chance to issue a chargeback so you need to make sure your documentation and chargeback codes are 100% accurate.
Each chargeback dispute requires a chargeback dispute letter explaining and detailing the request. Familiarise yourself with the language and tone used in these letters and investigate which letters provide the best chances of success.
UNDERSTAND THE CREDIT CARD CHARGEBACK RULES
Documentation requirements can vary from one organization to the other as the industry is not standardized. If your documentation and evidence do not comply with ANZ (Fiji) or credit card company requirements, your chargeback request could be denied before it is even reviewed.
The chargeback process outlined above is a simplistic model of how the entire process works. There are many variables that apply to each individual case and it is of utmost importance to understand what needs to be presented to ANZ bank and the rules and regulations that go with it.
If you are dealing with a relatively large sum of money and want to improve your chance of success, it would be a good idea to consider hiring a professional firm that understands the chargeback process flow and has a proven track record of success.
We work very closely with a company called MyChargeBack that brings with it years of experience in dealing with chargeback disputes with hundreds of banks worldwide.
MyChargeBack will analyze your chargeback dispute and determine the most appropriate argument and evidence to present to ANZ Bank.