Bank Dispute PolicyUpdated 7 days ago
Understanding Payment Disputes: How the Process Works
We understand that encountering a payment dispute can be confusing, and we're here to help clarify how the process works.
When a payment dispute (also known as a chargeback) is initiated, it means your bank or credit card company (the creditor) has stepped in to investigate a transaction. Here's a breakdown of what happens:
- Funds on Hold: The creditor places a temporary hold on the funds related to the disputed transaction. This means the money is neither with you nor with PROVEN; it's held by your bank/credit card company.
- Investigation Begins: During this period, the creditor acts as a neutral third party.They begin an investigation to gather all the necessary facts and documentation from both sides – from you (the cardholder) and from us (the merchant).
- Unable to Refund Directly: While the funds are under review by the creditor, PROVEN is unable to process a refund directly. The control of those funds is with your bank or credit card company during their investigation.
- Final Determination: Once the creditor has thoroughly reviewed all the information and evidence, they will make a final decision. The funds will then be released to the party they rule in favor of.
We encourage you to cooperate fully with your bank or credit card company during their investigation by providing any requested information.
If you have any further questions about this process or your PROVEN account, please don't hesitate to reach out to our Customer Care team. We're always here to assist you!