chargeback

Definitions (2)
Popular Terms
1. Accounting: Allocation of costs and resource usage based on actual usage or a predetermined amount. See also chargeout.
2. Electronic commerce: Withdrawal by the credit card issuer of the amount credited to the merchant's account (plus a chargeback fee) when a card-holder disputes a transaction charged on his or her card. The merchant usually has 10 days to submit proof of purchase and proof of delivery to reclaim the charged back amount.

Use 'chargeback' in a Sentence

Sometimes a customer may want to return the product so you should have a small window of time where they can get a chargeback.
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My dad explained to me that I would be offered a chargeback from the bank for their mistake in over charging me in the past.
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I always use a company credit card when shopping for refreshments for the annual conference because the account has a chargeback, so I never go over budget.
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