What is a chargeback?
A chargeback occurs when a buyer disputes the charge on their card with their bank. When this happens, the funds are returned to the cardholder and the amount is taken out of the host's balance along with a $15 chargeback fee. We submit evidence to the card holder's bank letting them know what the charge is for and reach out to the buyer asking them to contact their bank to have the dispute dropped. Chargebacks are typically under review for about 60 days. While fraud is the most common cause for disputes, there are a variety of other reasons why customers may question a payment.
What happens when a chargeback is lost?
If and when the dispute is resolved in your favour, the funds will be returned to your account. If the dispute is lost, unfortunately, the funds will not be returned. Unfortunately, losses can happen even when all the information is submitted. The card issuer’s decision is final and the cardholder’s payment will remain refunded.
Why do I have a negative balance?
When a chargeback occurs, the payment amount, along with a separate $15 dispute fee ($85 fee for orders processed in Hong Kong dollars, $25 fee for orders processed in Australian or New Zealand dollars) is deducted from your account balance and temporarily returned to the buyer during a 60-day review process. If and when disputes are won, the funds will be returned to the host, however, if lost, unfortunately, the funds are not returned.
How do I get my money back?
The verdict on whether a dispute is won or lost is decided by the card holder’s bank. Our team responds and submits evidence to the bank on your behalf. We make the case that the payment was valid and submit evidence including the buyer’s ticket and receipt, to let them know what the charge is for. We then reach out to the buyer directly asking them to contact their bank to have the dispute dropped. Any correspondence we receive from the buyer is included as evidence in the case. If the dispute is found in your favor, the disputed amount and fee is returned back to you. If a dispute is upheld, the card issuer’s decision is final and the cardholder’s payment remains refunded.
An important step towards resolution is talking to your buyer directly. We recommend that hosts follow up with their buyers when a chargeback is filed. Our team logs buyer contact information under the chargeback activity section on the balances page in your Universe account. Click the three dots to the right of the chargeback details, then select ‘message buyer’ from the dropdown menu and craft your message. We recommend asking the buyer to drop the dispute, making sure to include the details of the event including the event name, date and time to clarify the charge. it’s possible that they simply did not recognize or remember the transaction when they viewed their statement.
How do I prevent chargebacks?
Disputes are unfortunate, but a normal part of accepting payments online. The best way to prevent chargebacks is to ensure your event meets attendee expectations. Keep your event listing up to date using your event’s manage panel and make sure to alert attendees of any significant changes that might affect their ability to attend or enjoy your event. Messaging attendees is an easy way to keep them up to date on any changes. A step by step guide on this process can be found here.
Our team prevents buyers from disputing a charge by ensuring they recognize the charge on their credit card statement. We create clear statement descriptors using the event title so charges are not misinterpreted as fraudulent or suspicious.
How do I know if there are chargebacks on my account?
You can monitor the chargeback activity on your Universe account by navigating to your Dashboard at https://www.universe.com/dashboard and then clicking on your available balance.
|Note: If your account has events transacting in multiple currencies, each currency will have their own balances page with their own chargeback activity section.|
Chargeback activity will appear at the bottom of your balances page. Please note, this section will only appear once a chargeback occurs. Each chargeback will be listed with the date the dispute was filed, the event it is for, the buyer’s name, the amount disputed and the current status of the dispute. Disputes that are going through the 60-day reviewal process will have an ‘open’ status. Once a verdict is reached the status of the dispute will transition into a ‘won’ or ‘lost’ state.
Does my refund policy protect me from chargebacks?
Refund policies do not protect event organizers from chargebacks. Any buyer can dispute a charge with their bank. This process is set in place by banks to protect buyers from potential fraud. While fraud is the most common cause for disputes, there are a variety of other reasons why customers may question a payment. Please note, you should include a clear description of your refund and cancellation policies in your event description. When a buyer purchases a ticket to an event, they are required to agree to your terms of service prior to checkout. Ensuring these policies are accurate will increase the likelihood that banks respect your policies in the event of a dispute. You can set your refund policy from the basic information page of your event’s manage panel. A step by step guide on this process can be found here.
If you have any questions, feel free to contact us.