Bank of America Chargeback

Bank of America chargebacks can represent a serious hurdle for merchants who might face chargeback fees on disputed transactions. Disputed transactions may go through the Bank of America claims department, where customers can dispute a charge. Bank of America recommends that customers call the merchant first, before disputing a transaction, but this may not always happen. In the case of a disputed charge, merchants may see a Bank of America dispute debit charge. 

Until a dispute is resolved, the customer, to whom Bank of America is an issuing bank, will see a change in the credit card total due reflecting the dispute. Bank of America will reach out to the merchant via the card brand and acquirer. At that point, a merchant can dispute the legitimacy of a chargeback, but if Bank of America believes it to be a legitimate dispute, the merchant may have funds withdrawn or held from their merchant account and may be responsible for chargeback fees as well. 

In most cases, for merchants, it’s preferable not to deal with a chargeback in the first place. For all parties involved, it can be much simpler for customers and merchants to work out a dispute together before involving an issuing bank. If a cardholder submits a dispute on a charge, and Bank of America determines that the charge is legitimate, customers will have their total due readjusted to reflect the charge, but they likely will not be responsible for any fees or interest associated with the disputed charge. 

However, if the charge is deemed to be illegitimate, merchants can be held responsible for fees and administrative costs associated with the dispute process. These fees will depend on the merchant agreement. In any case, it’s almost always preferable to avoid chargeback disputes before they happen.

Bank of America chargeback fees, and chargeback fees from many banks, can be a serious hurdle for sellers and merchants. The best case scenario is that merchants can avoid them in the first place. With Midigator, you can accomplish just that. With Midigator, the majority of chargebacks can be avoided. Midigator works with the bank dispute process and helps avert chargebacks. 

Through Midigator, you’ll be notified of the dispute. Then, you’ll have the opportunity to avert the chargeback by issuing a refund to the customer. This stops the dispute from going to a chargeback where you might face chargeback fees or additional administrative costs. Since the Bank of America claim department works around the clock, having Midigator, which works with the Bank of America claims department hours, can save you a lot of hassle and help you avoid costly chargebacks. 

As a seller or merchant, ideally, you’ll never face disputes, but unfortunately they happen. They can be legitimate or illegitimate, but either way, avoiding chargebacks whenever possible is ideal. By using Midigator, you’ll be able to resolve charge disputes and keep customers happy before they ever turn into chargebacks.