Reason Code 05 – Good Faith Investigation Chargeback

A good faith investigation can be launched up to two years after the original transaction. If you accept liability, the issuer must initiate the chargeback within 30 days of the retrieval request response date. 

Your chargeback response must include proof that you have already refunded the transaction and credited the cardholder’s account. 

• Provide exceptional customer service. Respond to emails, phone calls, and social media inquiries as soon as possible. 
• Share accurate and detailed product or service descriptions.
• Write complete yet easy to understand policies. Make it simple for customers to locate this information.