Handling Disputes During COVID-19
As credit card disputes are on the rise due to cancellations in travel plans and the ongoing uncertainty of COVID-19, it’s important that you understand the dispute process and are prepared for how to handle them.
This webinar will walk you through the basic steps of how credit card disputes are managed and processed at FareHarbor as well as the impact of COVID-19 so far.
Frequently Asked Questions
If you are issuing refunds via bank debits, these are ACH transfers and can take up to 5 days to process. Refunds from the refund reserve happen quickly, within an hour. If you’d like some options to fund your refund reserve, give your AM or our Support team a call!
Here is a high-level overview of the dispute process:
- A dispute occurs when your customer contacts their bank or credit card company to report an incorrect or unwanted charge on their card.
- The cardholder’s bank physically holds the disputed funds while determining the outcome of the dispute.
- To account for this on FareHarbor’s end, we need to pull the same amount from your account to be held in escrow until the dispute has been resolved.
When FareHarbor is notified of a new dispute, we automatically provide you with similar notice. For each new dispute, we send an email that includes all relevant information about a dispute (booking number, customer information, transaction information) to the email address on file.
It is required during the FH onboarding process that every client designates at least one email address for dispute emails (you could actually have 2,3 or more). So, if you are not receiving dispute emails please get in touch with our Support Team to update the email on file. It is crucial that someone at your business is receiving dispute emails because this is the first step is aggressively fighting disputes.
This initial notification includes information on when the evidence packet for fighting disputes is due to the customer’s bank and a direct link for submitting additional information. Once we collect more information, we will begin “fighting” the dispute on your behalf.