Chargeback reason codes are set by the card networks and used by card issuers to categorize chargebacks. 4853 – Cardholder Dispute – Goods or Services Not Provided. Step 1: The cardholder disputes a charge. Response to retrieval request: Based on the information provided, the acquiring and issuing banks resolve the dispute, if possible. However, they don’t address the reason why that chargeback was issued in the first place. When a customer decides to dispute a charge made to their debit or credit card, it is referred to as a chargeback. A chargeback happens when a customer requests for a transaction to be reversed. Fraudulent TransactionsA chargeback reason code is a 2-to-4-digit alphanumeric code given by the issuing bank tangled in a chargeback. What is the chargeback representment process? When faced with a chargeback representment, you should take these steps. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. A chargeback reason code is a 2-to-4-digit alphanumeric code provided by the issuing bank involved in a chargeback, which is meant to identify the reason for the dispute. 4853 – Cardholder Dispute – Credit Posted as a Purchase. When you receive a chargeback request, respond promptly with any relevant information or evidence that supports your case. Chargeback time limits vary widely depending on the issuing bank, and the chargeback code or reason. Having a Lax Attitude Toward Industry Rules & Regulations. Try Shopify free for 3 days, no credit card required. If the customer’s story matches. How many chargeback reason codes exist? There are 151 reason codes across the four major card networks. Chargeback prevention strategies vary based on. The third digit indicates the specific reason within that category. Chargeback reason code 4837: No Cardholder Authorization applies in situations where customers claim a card transaction was unauthorized, but do not feel the issue can be resolved through the merchant. It is subject to change and may not include every currently known dispute reason code. 4 Ways to Fight Chargebacks: Gather compelling evidence. 1. A few reason codes allow for shorter timeframes. Chargeback reason code 75 is issued when a card issuer receives a complaint from a cardholder stating that the name of the merchant that. 3: Not as described or defective merchandise: VCR Dispute Reason Code 13. In fact, 91. VCR tables (Figures 1 and 2) map the old Reason Code to its new Reason Code. Switch to Visa MasterCard American Express Discover. So the company has more incentive to side with customer during cardholder disputes. Get your complete guide. Not only that, but a higher win rate may incentivize banks to conduct greater due diligence before filing a chargeback in the future. a) Code 75 (Cardholder Does Not. The shorthand description is “Late Presentment. Chargeback reason codes. Everything You Need to Know (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. 104. Chargeback Reason Codes: List & Tips for Merchants REASON CODE CATEGORIES Fraud 10. These symbols stand for reasons why a financial institution may file a credit card chargeback from their client’s name. At the same time, your account is debited for the chargeback amount, and the. It’s easy to feel overwhelmed by chargebacks. By entering your email, you agree to receive marketing emails from Shopify. 65% with at least 75 total disputes. 6. Click the Update Chargeback link to edit the chargeback details. FR4 Immediate Chargeback Program. The reason_code will be one of the following values: chargeback_reimbursement: The gross shows positive if the chargeback was resolved in the seller's favor, and the seller gets a refund. Other Ineligible Transactions Under Reason Code 62, Condition 2 . Issued the credit but did not deposit it with its processing bank in time for it to appear on the cardholder’s next statement. Fraud. FR2 Fraud Full Recourse Program. Chargeback fees make up a big chunk of the total costs, so we’re going to take a. Common Point of Purchase: Data stolen from a merchant’s system is used to make fraudulent transactions. The Mastercard chargeback reason codes were condensed down in 2016, like the process that Visa just underwent with Visa Claims Resolution. It can range from 60 to 120 days from the billing date. Reason Code 04. We want to clarify: this doesn’t imply that a transaction ID can reliably prevent chargebacks and fraud. How you respond is determined by the chargeback reason code: Embed This Graphic. Reason codes. The process is often troublesome; most times, reason codes do not show the actual basis why customer is disputing a transaction. Fight; Prevent; Recover; Predict; Success Story; Resources. Written by Chargeback Curators. Reason codes are important to help merchants address recurring. This information should be based on the Visa chargeback reason codes assigned to the case. FR2 Fraud Full Recourse Program. reason_description: string. A chargeback reason code is a number that helps to inform a hotel why a chargeback was filed. Despite being the smallest of the four major credit card companies, the list of Discover chargeback reason codes is extensive. The issuer suffered a financial loss due to the exchange rate difference between the credit and the. Cardholders and card issuers can place disputes on transactions for a variety of reasons including product returns, defects, cancelled reservations, and card processing errors. ” This code indicates the merchant waited too long to finish processing a transaction, and the account was no longer in good standing when the transaction was completed. The incorrect amount being charged. What is Visa chargeback reason code 13. 13. . Essentially, even a $50 chargeback can become $125 with all the extra fees. “It’s a lot tougher with Mastercard because they only use four main codes. Below are some examples of more common reason codes. The sales receipt and/or date and amount of the authorization if other than the transaction date. MasterCard - 4855 Goods or Services Not Provided. The chargeback reason code is important in determining the evidence you need to provide to successfully win the chargeback dispute. Choose the representment amount. This definitive guide includes the chargeback reason codes coming each of the four greater menu networks. Visa chargeback reason codes. Stage #1: Awareness - be aware of the chargeback response time limitThe standard chargeback process involves eight steps: Retrieval request: The card-issuing bank requests that the acquiring bank provide additional information for a given transaction. Visa, MasterCard, and American Express all list compelling evidence by reason code. By entering your email, you agree to receive marketing emails from Shopify. Your request for a chargeback reversal has been reviewed. Each of the major card brands, including Visa, Mastercard, and others, have their own system of reason codes. To avoid this, issuers can identify their chip cards using the Service Code field with a first byte value of 2 or 6. American Express – Consumer Disputes: C02 – Credit Not Processed C04 – Goods or. Chargeback reason code description – An explanation which provides the reason of raising a chargeback by the cardholder. 2. pdf - Free download as PDF File (. Chargebacks from all three categories can show . chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. 04/20/13 Visa and MC Retrieval Codes — removed retired codes MC Reason Code 37 — Updated Special Notes. 4, 12. As we touched on earlier, chargebacks can happen due to technical errors. Chargeback Reason Codes Visa. Different card networks have different reason code systems. Reason codes are alphanumeric strings of text provided in a chargeback notification as a means of explaining the cause for the dispute. Both EFM and ECM measure compliance at the MID level. 102. Info Us; In and. In the distribution industry,. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. Aforementioned definitive guide includes and chargeback reason codes from each of the four major bill networks. 3 No Authorization. Once you know why a chargeback happened, you can start building a case to address the claims that were made. prenotification of chargeback, depending on the chargeback reason code, to the agency requesting additional documentation to properly dispute and remedy the chargeback. According to Signifyd data, the total cost of a fraudulent purchase of $100 is actually $196. ECM monitors first presentment chargebacks regardless of reason code or transaction type. R03 Insufficient Reply. Step 2: Customer initiates the chargeback. This scenario applies when the arbitration was raised by either the. Chargeback representment is the process through which merchants can submit evidence to prove that a chargeback is illegitimate. A fraudulent chargeback represents much more than a lost sale for merchants. Built with a single, intuitive console, Sift’s end-to-end solution eliminates the need for disconnected tools, single-purpose software, and incomplete insights that drain operational. Also, just like American Express, Discover functions as both a card network and an. This ranges anywhere from roughly 60 to 90 days after purchase. The first two digits indicate what category the reason code falls under: 10 for Fraud, 11 for Authorization, 12 for Processing Errors, and 13 for Customer Disputes. Description: Reason Code: Explanation: Incorrect Card Number: American Express P01, P22; Discover IN; Mastercard 4808; Visa 12. 1 chargeback: 1. Vantage HouseAccording to the 2022 Chargeback Field Report, global costs associated with chargebacks will have skyrocketed in recent years. However, even if you meet all deadlines and the chargeback request is fully substantiated with documentary evidence, there are three additional obstacles that you must overcome before a credit card dispute can be processed: You have to choose the correct reason code. Late Presentment Rules: Mastercard. underlying your chargeback. Breaking Down Chargeback Fees. 5158. The chargeback process starts when a customer (or, less frequently, their issuing bank) challenges a transaction as invalid. It's essential to respond within the. Standard Threshold: Reaching a chargeback ratio of 0. Each code refers to one of the specific rationales that card networks consider legitimate reasons for a customer dispute. The codes also appear on financial reporting associated with disputes. Click “filter orders”. You can learn more about each one by visiting the Mastercard Chargeback Guide. 1These chargebacks occur to resolve chargeback-related disputes between network members. The reason_code field lists the reason code the issuing bank has assigned to the chargeback. After the introduction of Visa Claims Resolution, Visa set the goal of resolving all disputes in less than 31 days. 3 is an updated version of legacy Visa reason code 72, which was phased out under the Visa Claims Resolution initiative. Visa uses chargeback reason code 75 to designate chargebacks caused by non-recognition of a credit card transaction by the cardholder. Reason code 4808 – Authorization-Related Disputes; Reason code 4870 – Chip Liability Shift; Reason code 4871 – Chip & PIN Liability Shift; Reason code 4834 – ATM Dispute; Chargebacks filed with these reason codes are supported by a great deal. Read the Chargeback Advice letter carefully. Thus, the easiest way to prevent chargeback reason code 75 from being. Chargeback Reason Codes; Payment Industry Glossary;. Further information at page PSR-564, 11. A 10. All ACH return reason codes consist of the letter “R” followed by two. 4: Other Fraud–Card-Absent Environment. If a customer makes a chargeback request on the basis that he or she has not authorised the transaction, the customer's bank will charge the transaction back to the merchant’s bank. According to Nilson, 56% of global card transactions were done on Visa in 2015. But cardholders and merchants have different time limits. Fraud is the number one chargeback reason, but it is important to note that there are two types of fraud: After the issuer initiated the dispute, the merchant issued a credit for the whole transaction amount in the merchant's local currency. Reason codes are important to help merchants address recurring. 4, 13. As chargeback time limits get shorter and shorter, automated technology will become more and more valuable. Depending on the specific situation, Mastercard will match authorization response to one of the following merchant advice codes: Mastercard Response Code. Goods / Services Damaged or Defective. 10/21/14 Updated Chargeback Time Frames: Added Reason Code 05; Addendum Reason Code PM; Changed TF time frame from 120 days to 540 days. 0 only applies to reason code 10. Since Chargebacks are time sensitive, card networks provide time limits on each reason code to help merchants manage time and data to submit their claims in a timely manner. With the right compelling evidence,. 3 –. All chargebacks start with a customer making a purchase in person, in an app, or online. Here are some chargeback reason codes by card type. 1; Reason: EMV Liability Shift. 6). American Express reason code 155, Visa reason code 30, MasterCard reason code 4855, and Discover reason code 4755 are all specific reason codes for Shopify payment chargebacks. Reason codes differ by card brand (Visa, Mastercard); a complete list can be found here. “Visa has 28 different reason codes. This definitive guide comes that chargeback reason codes from jeder of of four majority card networks. Code 4807: Fraudulent Card-Present Transaction. Chargebacks were introduced as a form of consumer protection against. 6: Credit not. The first thing you should do when you receive a chargeback notification is to check the reason code that the card issuer assigns to the dispute. Written to Chargeback Gurus. RN2 Credit Not Processed . However, it's advisable to respond to whatever reason code you received from the bank. The chargeback reason code. Most Common Chargeback Reason Codes #3: Order Significantly Not as Described. Some crucial examples of specific documents used as compelling evidence are as follows: Delivery confirmation of the order; Conversations with the customer; Verification codes (AVS, Authorization, Card Security Code, 3D Secure 2. For a Mastercard late presentment chargeback to be valid, all the following conditions must apply: The cardholder’s account must be permanently closed. Every card brand has a unique set of chargeback reason codes banks must choose from. Reason Code 02. Get your complete guide to the new Visa reason codes, including all the detailed information, chargeback time limits, and other important information you need. The network hasn't wholly disallowed some old codes. reason codes. Did not issue a credit, because it does not accept returns, but did not properly disclose its return policy. Expedited Dispute Resolution forms will not be allowed. Chargeback Reason Codes > Chip Liability Shift > Issuer Chargeback > Chip Liability Shift Program for Domestic and Intraregional Transactions Chapter 5—Compliance Case Filing Incorporated the changes announced in “AN 1677—Revised Standards—QuestionableChargeback reason American Express reason code Discover reason code Mastercard reason code Visa reason code; Cancelled subscription: C28: NF: 4841: 13. Since the chargeback process can be costly and time consuming, merchants should consider it an important priority. 9808 info@chargebacks911. In the case of an arbitration chargeback, though, the issuer must file within 45 calendar days of the second presentment settlement date. There are over 80 unique return codes, and each one represents a different type of return. 2 EMV Liability Shift. ”. MASTERCARD Reason Code Description 01 Requested Transaction Data Not Received. The notifications you receive. for chargeback reason code 4863 (Cardholder Does Not Recognize). Ready to see how Chargeback Gurus can help your business with chargebacks and fraud?Schedule a demo with us here: are many diff. Written over Chargeback Gurus. Key-in your chargeback reason code and get a detailed explanation of what it means, how to fight the chargeback, and how to prevent disputes in the future. As expected, chargeback reason codes exemplified consumer sentiment. Chargeback Reason Codes 62 and 4862 are issued when a merchant fails to compare the first four digits of the embossed account number on the card with the pre-printed digits below the embossed number for a card-present transaction or receives an authorization without the transmission of the entire magnetic stripe. This reason code is accompanied by a fraudulent reason code (UA). Most reason codes apply to any merchant, regardless of what’s being sold. 6: Duplicate processing/Paid by other means. 2: Canceled Recurring Transaction, and those disputes would still go through the normal chargeback process. Discover is a credit card network and an issuing bank—just like American Express. For example, most cardholders can only file a chargeback within 120 calendar days of the initial transaction. This will be referenced in the chargeback notice you received. chargeback_settlement: The gross shows negative if the chargeback was resolved in the buyer's favor, and the funds return to the buyer. The reason_code will be one of the following values: chargeback_reimbursement: The gross shows positive if the chargeback was resolved in the seller's favor, and the seller gets a refund. ) A no-nonsense summary of evidence that proves transaction is legit. To quantify the total cost of fraud, we break down the many losses that accrue along the purchase journey of a fraudulent $100 sale. Also, Ethoca Alerts only notify you of chargebacks that occur within the alert. Using our e-commerce fraud prevention tools, we help lower friendly fraud costs and chargeback rates, but also reduce gift card and coupon abuse, and promote secure login authentication. 2: Cancelled recurring transaction: VCR Dispute Reason Code 13. 101. pdf), Text File (. Share your cancellation policy, note that it was displayed prominently, and show that the cardholder agreed to the terms at the time of the purchase. ACH return codes are a type of shorthand for specific information concerning the return, much like the card decline codes or dispute reason codes used by credit card networks. . A service chargeback is filed by a customer, which means that you need to note the card type and dispute reason code so that you can determine which types of information to submit if you dispute the claim. All cardholder data must be encrypted, truncated, or tokenized; account numbers can only be partially displayed. Some consumer disputes are legitimate complaints about an order that doesn’t go as planned. 3: Goods or services were not as described: C31: RM: 13. Merchants. RR - Retrieval Request MID - Merchant Identification number PA - Pre-arbitrations NOTE: PayPal often cites reason codes from cardThe post below contains legacy information pertaining to the formerly-common Visa chargeback reason code 75. What stands out about the Discover reason codes list, though, is most of the codes are alphabetically-noted rather than numeric. Find explanations for the major credit card issuers dispute reason codes in the Cardholder Dispute Reason Code EncyclopediaThe existing 22 chargeback reason codes will be replaced by new reason codes and grouped into 4 categories: 1. 3 is the less common version for card-present transactions. Here is an overview of how the general chargeback process works with most major processors (we’ll get into how Square does it down below) Step 1: A purchase occurs. If the CID doesn’t match, merchants generally prompt the Card Member to re-enter it. When a cardholder makes a purchase, but regrets it later, they may file a chargeback to recoup their money. for chargeback reason code 4863 (Cardholder Does Not Recognize). 2. Reason Code. Each chargeback reason code has its own set of specific documentation requirements so merchants should familiarize. They also can’t prevent the lost sales revenue and merchandise resulting from a consumer dispute. If you've determined the chargeback is meritless, and you know the reason code, below are the five stages of an effective chargeback representment. We’ll Handle the Chargebacks. The major card networks (Visa, Mastercard, Discover, and American Express) established these codes to clearly identify the reason a chargeback was requested. Jan 2020_Chargeback Reason Code Encyclopedia - Free download as PDF File (. 2) If you want to try and win the money back, reply to the chargeback notification email with your relevant transaction details and documents. 2022 Visa Chargeback. Each chargeback has a chargeback reason code assigned to it, which is a two-digit number that corresponds to the reason the customer is disputing the charge. Step 2: Customer initiates the chargeback. They usually have up to 120 days after purchase to dispute a charge, though some card schemes allow up to 365 days. 3DS2 offers more features, including PSD2 compliance, fewer false declines, and better security. 5, 53, C31, C32, RM. There are over 80 unique return codes, each representing a different return type. For educational purposes, here is an overview of the general chargeback process with most major processors: Step 1: A purchase occurs – All chargebacks start with a customer making a purchase, either in-person, in-app or online. Chapter 6 Pre-Arbitration and Arbitration Case Filing-For Chargebacks Initiated On or After 17 July 2020 > Time Frames and Requirements > Dual Message System Pre-Arbitration andA chargeback is a transaction reversal resulting from a credit card payment dispute. VCR Dispute Reason Code 10. ) has its own reason code system, so sellers should carefully check the card used for the. France saw a drop of roughly 50% during the same period. Depending on the reason code, supporting documentation may include: Copies of the order confirmation, invoice, or receipt; Proof of. Administrative returns (R02, R03, R04): 3%. Credit Not Processed. It’s important to look up the code to understand why a transaction, good, or service was disputed in order to properly present a solid case to win the chargeback. A reason code helps explain why a transaction was disputed. prenotification of chargeback, depending on the chargeback reason code, to the agency requesting additional documentation to properly dispute and remedy the chargeback. The notifications can help merchants stop chargebacks before they count against them. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card. The agency must provide this documentation to Vantiv (via mail, fax, online/scanning) within 30 calendar days after the report date on the Visa/MasterCard. Reason Code. Each card. The major card networks have unique reason code systems, and banks use separate tools. The issuing bank reviews the information. FAQ: What is Chargeback Representment?. Consult the applicable network’s guidelines for examples of acceptable compelling evidence. The length and structure of Reason Codes changed from a current two-digit code to four to six digits that contains decimal(s) point(s). American Express . 3. When you receive a chargeback request, respond promptly with any relevant information or evidence that supports your case. EMV Liability Shift Counterfeit Fraud. Discover chargeback reason code 7030. The transaction amount is re-charged to the cardholder’s account, and the funds go back into your bank account. If a criminal manages to defeat the technology and complete an online. 2. Visa Chargeback Codes — removed retired codes. The reasons for the consumer disputes can differ from situation to situation. It gets worse. Solution. Reason Card Type Reason Code Description Merchant Action Code This chargeback occurs because of a dispute on an Airline sale involving allegedly fraudulent card transactions. The transaction amount and authorization number (ARN. Discover chargeback Reason code RN/RN2 is applied when issuing bank gets a notice from the card owner that merchandise was returned, but merchant hasn’t refunded, and. 7 • A transaction has been processed against a card number that is invalid because it does not exist, has not been assigned to an active cardholder account, or is otherwise incorrect. FAQ: What is Chargeback Representment?. Most acquiring banks put a timeframe on when customers can initiate a chargeback for a purchase. Discover - RG Non-Receipt of Goods, Services, or Cash. Visa Chargeback Reason Codes. The Discover chargeback reason codes list is just as extensive as the other major US card schemes, despite being the youngest and smallest of the four. Chargeback reason codes will usually provide specific information about what kind of evidence is needed to get the chargeback reversed. By entering your email, you agree to receive marketing emails from Shopify. 60 due to merchandise, fees, overhead, and other sources of loss. Overview. You can see a reason code 11. Issuers must not initiate a chargeback for magnetic-stripe (POS Entry Mode value of 90 or 02) transactions on non-chip enabled cards. Also, remember that the point which qualifies as "Day One" will reset at each stage of the chargeback process. This category of fraudulent chargeback is represented with the following reason codes: AMEX - C08 Goods/Services Not Received or Only Partially Received. In simple terms, an Electronic Commerce Indicator (ECI) is basically a 3-D Secure response code. The charge you submitted did not receive a valid authorization approval code for the amount of the charge. Articles; Chargeback Reason Codes;. S. Responding to a chargeback request. Visa ® has launched the CE 3. They’re projected to cost merchants nearly $118 billion every year by 2023. Overall returns (all codes): 15%. 4853 – Cardholder Dispute – Credit Not Processed. To obtain additional information, the issuing bank sends a retrieval request to the merchant’s bank. A chargeback filed due to buyer’s remorse is a prime case of friendly fraud; a situation where a customer side-steps a return policy in order to gain an illegitimate refund. Here are a few high-level examples. 04/09/14 Discover: DC, U02. Reason Code 81: Fraud. September 2011: 5. Complete Guide to Visa Compelling Evidence Update CE 3. The following is a full list of Chargeback Reason Codes for the card schemes that Zai supports. An issuer can initiate a first chargeback when the circumstances of the transaction meet the requirement of a chargeback reason code described in the Chargeback Guide. pdf), Text File (. You can incur extra fees if a customer’s chargeback is accepted. Discover Chargeback Reason Codes Explained. Because of this, banks, merchants, and card networks often classify chargebacks into three distinct categories to determine how they should be approached. A customer will go straight through their bank to initiate a chargeback. In the normal chargeback notification process, it can take 2-5 weeks to be notified. Below are some examples of more common reason codes. There are two parts to this. If they succeed, the issuing bank will reverse the chargeback and return. The other two chargeback reasons can be traced to very obvious causes — criminal activity and merchant mistakes. prenotification of chargeback, depending on the chargeback reason code, to the agency requesting additional documentation to properly dispute and remedy the chargeback. FAQ: What is Chargeback Representment? TIPS. When one cardholder initiates a dispute with their issuing bank, a. Therefore, the issuer may submit a chargeback for a Payment Transaction using the message reason code 4842 before the 30-calendar day presentment time frame normally required for this message reason code. Additionally, one clearing transaction. Reason Code 05. The chargeback period, or the time limit for filing a chargeback, depends on the card scheme and the chargeback reason code. 0 to 5. Each chargeback reason has its own, individual prevention techniques. American Express chargeback reason code C42. The number of in-person fraud attacks attempted in the UK has dropped by 69% since 2004. The cardholder may be the customer or the someone who lent their card to a friend or relative. Any of those things could easily result in a recurring billing chargeback ( Reason Code 13. That’s 50% more time than what the major card networks allow. Laundering: The merchant carried out transactions without a legitimate cardholder’s involvement. Solutions. If you fulfilled the cancellation request but the cardholder continued to use the services, provide documentation that proves the charge covers services used after the cancellation. 1 – EMV Liability Shift 10. 1 Merchandise/ Services Not Received. Fight; Prevent; Recover; Resources. 1, 55, C08, RG: The notifications you receive will indicate the. Collect Compelling Evidence. 7: Defective goods and services: C32: RM: 13. Time Limit (Issuer/Cardholder) 120 Days. 2 Compliance CasesChargeback Reason Codes by Industry. Here is an overview of how the general chargeback process works with most major processors (we’ll get into how Square does it down below) Step 1: A purchase occurs. F02. Time Limit (Acquirer/Merchant) 30 Days. Make sure you are always aware of the latest rules and regulations, and update your policy accordingly. The most common chargeback reason codes are fraudulent charges, unauthorized transactions, and products not received, however, there are dozens of different chargeback reason codes for cardholders to choose from. Code. Ethoca alerts can prevent chargebacks before they hit your bank account. A well-structured rebuttal letter should address the chargeback reason code, clearly explaining why the cardholder's dispute is not legitimate and why the funds should be returned to you. 16 Chargeback Reason Code 71 – Declined Authorization. Chargeback Reason Codes by Lan - 2023 Guide. Vendors that do not have a well-drafted shipping and order fulfillment policy are susceptible to this category of Shopify chargebacks. 0 is simply a better protocol than 1. Take the time to note the following dispute reason codes for Visa. Save finalize leaders includes the chargeback good codes off each of the four major card networks. 1. If the conflict can be settled, the acquiring and issuing banks do so. In both instances if the Merchant wishes to withdraw from an arbitration case, Visa will charge the amount of 500.