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What is the difference between a chargeback and refund, and how much does it cost?

April 26, 2017chargeback COST difference refund

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What is the difference between a chargeback and refund, and how much does it cost?

1 Answer

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The refund fee is the Blackbaud OneRATE of 2.598% and $.26 per transaction. Refunds are processed when a donor asks to have the money returned. You simply enter your Blackbaud solution or the Blackbaud Merchant Services Portal to reverse the transaction and return your donor’s (or registrant’s) money. For chargebacks, the donor/registrant calls the credit card issuer and indicates that he does not recognize the transaction and wants to have the charge removed from his card. The credit card issuer then initiates a defined chargeback process and notifies the merchant for resolution. The chargeback may be challenged, and depending on the circumstances and resolution, the donor/registrant may or may not get his funds returned. The chargeback fee is $15.00.