Had a $1,150 Chargeback, Ready To Quit

12 replies
I am fed up with this shi!* long story short month FedEx lost a package costing me $600 they still investigating that claim. Now I look in my bank account and someone did a chargeback for $1,150!!! I checked all my sales and all the credit card info matched and now I am screwed without that money in my account.

I am usually positive but this is too much money and honestly makes me ready to sale my site and get out of the ecommerce business. How can banks take money out of my account without at least giving me a damn warning!? Sorry for the negativity today I just really need to vent and feel like I am going to have a stroke...
#150 #chargeback #quit #ready
  • Profile picture of the author PerformanceMan
    Was this for a physical product? Do you have delivery receipt?
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  • You can fight chargebacks.

    If you're in the right, you're in the right. That's why you document everything!

    Also, make sure you're always putting away money in a slush fund to prepare for such emergencies.

    I always put away 50 percent away for taxes, and 15% away for misc.

    Then, on top of that, I only pay myself once a month, and it's just what I need - and I never clear out my account from 'what's left after that'.

    I'm always padding the account with more than I need -- usually I use it for reinvestment in the business.

    No business likes surprises, but you might as well prepare for them! They always happen!

    ADE
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    • Profile picture of the author JeffHylands
      Originally Posted by Auctiondebteliminator View Post

      You can fight chargebacks.

      If you're in the right, you're in the right. That's why you document everything!

      Also, make sure you're always putting away money in a slush fund to prepare for such emergencies.

      I always put away 50 percent away for taxes, and 15% away for misc.

      Then, on top of that, I only pay myself once a month, and it's just what I need - and I never clear out my account from 'what's left after that'.

      I'm always padding the account with more than I need -- usually I use it for reinvestment in the business.

      No business likes surprises, but you might as well prepare for them! They always happen!

      ADE
      Thank you for this, yea it's tough because all these sales pay for my living so it's tough to save during the growing period even knowing that's what I should be doing. I appreciate your advice I will debate what I can do if I don't get refunded I will have to sale the site.
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  • Profile picture of the author JeffHylands
    I called my merchant account they said they are looking to see what customer it was, I usually have tracking numbers so hopefully they can figure out who it was. I guess the bank is sending me something in the mail about it. I checked all sales for that product, which is physical and all the credit card information matches on all of those. I love how a customer would do this without contacting me.
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    • Profile picture of the author PerformanceMan
      Originally Posted by JeffHylands View Post

      I called my merchant account they said they are looking to see what customer it was, I usually have tracking numbers so hopefully they can figure out who it was. I guess the bank is sending me something in the mail about it. I checked all sales for that product, which is physical and all the credit card information matches on all of those. I love how a customer would do this without contacting me.
      If you have a delivery receipt you'll be okay. They always grap the money first - which sort of sucks. But that doesn't mean you lost.

      Don't panic just yet. Could be a moron/a-hole who either forget they ordered or a spouse that didn't know etc.
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  • Profile picture of the author tpw
    If the customer did not receive the ordered product, they have a right to initiate a chargeback, and the bank has an obligation to get the money back from you.

    Hopefully you insured the product that you sent to the customer? If so, you will get your money back after the matter has been fully vetted by FedEx.
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  • Profile picture of the author JeffHylands
    Appreciate all the help guys sorry for the negativity when you see that much money leave your bank account within a month it can freak you out a bit. Life goes on ether way so I will try to change my attitude on this, and I feel I did what I needed to do so hopefully I win this.
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    • Profile picture of the author PerformanceMan
      Originally Posted by JeffHylands View Post

      Appreciate all the help guys sorry for the negativity when you see that much money leave your bank account within a month it can freak you out a bit. Life goes on ether way so I will try to change my attitude on this, and I feel I did what I needed to do so hopefully I win this.
      I'm confident it will turn out well. That is a LOT of money to lose so your feelings are understandable
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  • 25 grand once from my Merchant account, they do this stuff from time to time. As for chargebacks you will get some people just do them, you need paperwork to prove delivery or you loose, it's on you to prove it not the customer.

    Don't give up this is normal in business some customers just love to charge back but they are very few, looks like you ran into it, I get a few every 1000 transactions it's not a big number.

    Good luck and I hope you get your money back.
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    • Profile picture of the author professorrosado
      Sorry to hear about your situation - but this is business. We want the benefits of business ownership but then we care not for the responsibility and the commitment we must have for our customers who place their trust in us.

      Bottom line is that many people get nervous after a purchase and then some find a "better" deal elsewhere or at least one they're more comfortable with.

      If you are going to be a success in business, you need to buffer yourself against losses as all "real" businesses do. And Internet marketers should be more careful than brick and mortar businesses in this regard.

      For taxes or for refunds, you haven't made money until everyone has received their share - Truth!
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  • Profile picture of the author domainscience
    Had a friend who was a drop shipper and his one client charged back over $30,000 in one month. (Ouch).

    After helping him with the bank, they finally gave back every penny (6 months later).

    Get your proof ready and don't give up.
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  • Profile picture of the author seasoned
    Originally Posted by JeffHylands View Post

    I am fed up with this shi!* long story short month FedEx lost a package costing me $600 they still investigating that claim. Now I look in my bank account and someone did a chargeback for $1,150!!! I checked all my sales and all the credit card info matched and now I am screwed without that money in my account.

    I am usually positive but this is too much money and honestly makes me ready to sale my site and get out of the ecommerce business. How can banks take money out of my account without at least giving me a damn warning!? Sorry for the negativity today I just really need to vent and feel like I am going to have a stroke...
    If that fedex package was supposed to go to the guy with the chargeback, why would they bother to contact you? I almost did a chargeback TWICE because of lost packages. In one case, they lucked out because I went back the next week, and got things moving again ******AND****** I still wanted the package. In another, I luckily(for them), had a little time, etc...and drove through two states to get the package. It took HOURS, and MAN was I upset. I wasn't even fully sure it was their package. If it wasn't, i would have have stopped things RIGHT THERE!

    As for fedex, didn't you insure the package?

    Steve
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