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Resolve Chargeback Tool — Reason Codes

MasterCard Reason Code 62


Definition:
Magstripe read counterfeit transaction.The transaction is determined to be the result of counterfeit magnetic stripe fraud, and the transaction was not magstripe approved. The transaction may have first been swiped and subsequently approved as a key entered or phone transaction.

Q: Was credit processed?

    

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Q: Was credit processed?   A: Yes
 
RESULT
This chargeback can be represented. The documentation needed is:

A print out of the credit (if issued to the credit card)

Or

A copy of the front and back of the cancelled check or money order (if issued by check or money order)

If the credit issued was a partial credit, be sure to include an explanation as to why full credit was not issued.

Tips
  • Be sure to provide the documentation by the due date to preserve your rights to dispute the chargeback.
  • If the cardholder states they are going to withdraw the chargeback we recommend you still go ahead and represent the chargeback to ensure you preserve your rights.
  • To reduce risk of receiving a chargeback we recommend credits be issued to the account used in the purchase and not by check or money order.

Q: Was credit processed?   A: No

Q: Are you able to provide a swiped/signed transaction receipt for this purchase?

    

Start This Reason Code Over

Q: Are you able to provide a swiped/signed transaction receipt for this purchase?   A: Yes
 
RESULT
You may be able to represent this Chargeback.

Information to include is:
  • The authorization response
  • The authorization Response Code
  • The date of the authorization
  • A copy of the signed/swiped sales draft.
Tips
  • When your terminal declines a credit card transaction, request another form of payment from the cardholder. Do not keep attempting to get an authorization on that card.

Q: Are you able to provide a swiped/signed transaction receipt for this purchase?   A: No
 
RESULT
According to the information you provided and Visa / MasterCard Chargeback regulations, it does not appear that you can dispute this Chargeback through Wells Fargo.

You may consider contacting the Cardholder directly to discuss potential resolution. If you feel that the Chargeback is in error or you have additional information you wish to discuss, we recommend you contact your Wells Fargo Chargeback representative.

NOTE
If the reason for Chargeback is fraud, consider that direct contact with the Cardholder may not result in resolution. With fraudulent charges, the Cardholder's account was compromised and the Cardholder disputed the charge. If you have reason to believe that the true Cardholder made this purchase and the dispute was an error, then you may consider contacting the Cardholder.

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