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How to Initiate a Metro Bank Chargeback in 2020
Welcome to the Metro Bank chargeback assistance center where we aim to provide you with all the information necessary to proceed with a successful recovery of your funds. In order to ensure a successful chargeback, it is important to fully understand the process and the requirements set out by Metro Bank. If not, you run the risk of having your chargeback request declined. It is important to understand that a Metro Bank chargeback request can only be made once, so it is important that your documentation and evidence is 100% accurate.
Who are the Participants in the Metro Bank Chargeback Process?
Cardholder / Customer
The cardholder is the owner of the Metro Bank credit card or debit card that was used in the transaction which is under dispute. The customer is the individual who was directly involved in the transaction. Generally, the cardholder and customer are the same person, but this is not always the case.
This is the individual or company who sold the product or service to the customer. When a Metro Bank chargeback dispute is raised, the merchant has the opportunity to accept the claim or dispute it.
The Issuing Bank
The issuing bank is the bank or financial institution that issued the card to the cardholder.
The Acquiring Bank
The acquiring bank is the bank that manages the merchant’s account and 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 credit card company that determines the terms and conditions with respect to credit card transactions that are carried out by the issuing bank. Well known credit card companies include VISA, Mastercard, American Express and Discover.
How to File a Chargeback | Metro Bank
The Metro Bank chargeback process might seem like a straightforward process, the problem is that you need to ensure that all the information presented in your case is accurate, factual, and follows Metro Bank’s rules and regulations. The list of steps below illustrate how to initiate a Metro Bank chargeback.
Step 1 – The customer initiates a Metro Bank chargeback dispute request over a transaction made with a Metro Bank credit card or debit card.
Step 2 – Metro Bank reviews the chargeback dispute charge and electronically sends the transaction to the acquiring bank
Step 3 – The acquiring bank receives your Metro Bank chargeback request, resolves the issue automatically or forwards it to the merchant
Step 4 – The merchant has the opportunity to either accept the chargeback request or reject it by sending their own supporting 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
Metro Bank Chargeback Time limit in 2020
How Long Do I Have to File a Metro Bank Chargeback?
Metro Bank’s chargeback time limit typically depends on the card company’s terms and conditions. The best approach is to advise Metro Bank within 120 days from the date of the transaction, however, cases can extend up to 540 days and even beyond that with certain card companies. The key for a successful Metro Bank chargeback, however, is to file the request with as soon as possible.
What is Metro Bank’s Chargeback Fee?
“What is a chargeback fee?” is a very popular online query when it comes to Chargebacks. When it comes to a credit card chargeback, there is 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 a Metro Bank Chargeback take?
Depending on the complexity of the case, the chargeback process can take anywhere from three to six months until a decision is made. This primarily depends on the case under review and the chargeback codes related to the dispute. Card companies and merchants, however, have varying time limits.
How to Raise a Metro Bank Chargeback Successfully
There are a number of steps that can be followed to increase your chances of success.
ADVISE METRO BANK AS SOON AS POSSIBLE
As previously mentioned, filing a Metro Bank 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 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 Metro Bank 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 reason codes that need to be submitted with each chargeback request. It is very important to ensure that you have the correct chargeback reasons code associated with your chargeback dispute otherwise the request will be denied. Remember that you only have one chance to request a chargeback so you need to make sure your documentation and chargeback codes are 100% accurate.
Each chargeback dispute requires a letter explaining and detailing the request. Familiarize yourself with the language and tone used in these letters and investigate which letters provide the best chances of success.
UNDERSTAND THE REGULATIONS
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 Metro Bank or credit card company requirements, your chargeback request could be denied before it goes for review.
The chargeback process outlined above is a simplistic model of how the chargeback dispute 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 Metro 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 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 Metro Bank.
If you are in need of an effective and professional fund recovery solution, contact MyChargeBack today! Simply fill out the form below and a representative will contact you to discuss your case and provide you with the best possible solution to recover your funds.