What Is a Chargeback, and How Does It Work with Mastercard?

A chargeback is a process that allows you to dispute a card transaction and potentially recover your money if something goes wrong with a purchase. Chargebacks are designed to protect cardholders from issues such as unauthorised transactions, billing errors, or cases where goods or services were not delivered as promised.  

When you raise a dispute with TallyMoney, we may initiate a chargeback with Mastercard. Here’s how the process works:  

1. You raise a dispute: If you believe there’s an issue with a transaction, contact the merchant first. If they can’t resolve it, you can provide us with the transaction details and supporting evidence.  

2. We review your claim: Once we have all the necessary information, we’ll verify that your case meets Mastercard’s chargeback criteria.  

3. Mastercard forwards your case to the merchant’s bank: After we file the chargeback, Mastercard notifies the merchant’s bank, which then informs the merchant of the dispute.  

4. Merchant responds: The merchant has the opportunity to accept the chargeback or challenge it by providing evidence to support their case.  

5. Final decision  

We’ll let you know the outcome as soon as possible. While we aim to resolve disputes within 60 days, the timeline can vary depending on the complexity of the case and response times from other parties. A final decision is made in accordance with Mastercard's rules and guidelines.  

6. Outcome notification: Once a decision has been made, we’ll inform you of the result. If the chargeback is successful, you’ll receive a refund. If it’s unsuccessful, we’ll explain why and provide any relevant details.  

Important to Know:  

- Mastercard sets strict rules and deadlines for the chargeback process. Typically, disputes must be raised within 120 days of the transaction date.  

- Not all disputes result in chargebacks, and not all chargebacks are successful. Providing complete and accurate evidence is crucial.  

If you have questions about chargebacks or need help raising a dispute, our customer service team is here to assist you via our in-app chat feature or email via [email protected]