What is a chargeback?
A chargeback occurs when a buyer disputes the charge on their card with their bank. When disputes are successful, the funds are returned to the cardholder and the amount is taken out of the event host's balance along with a $15 chargeback fee. Chargebacks are typically under review for about 60 days.
How do I know how many chargebacks are on my account?
Host's can view this information on a per account or per event listing basis.
Account - www.universe.com/dashboard/reports, scroll down to view the Chargebacks report. Downloadable in csv or xls format.
Event Listing - navigate to www.universe.com/dashboard/my-events, the select Manage for the event you wish to view, then navigate to the Reports tab, scroll down to view the Chargebacks report. Downloadable in csv or xls format.
Open - Disputes that are going through the 60-day review process.
Lost - Disputes that have been decided in the favor of the buyer.
Won - Disputes that have been decided in the favor of the event host.
What happens to my available balance when a chargeback happens?
Open - The Net Sales for that order + a $15 chargeback fee will be removed from your available balance and these funds will not be available to withdrawal until the review period for the dispute has ended. If you have already received a payout for your event, this will send your account into a negative balance.
Lost - The Net Sales for that order plus any Universe Fees are returned to the buyer and the $15 chargeback fee will be paid to the credit card company. No funds will be made available to withdrawal. If you have already received a payout for your event, this will send your account into a negative balance, which will need to be settled with Universe directly, or will be deducted from a future payout.
Won - The full order amount and the $15 chargeback fee will be returned into your Upcoming Balance if your event has yet to occur, or your Available Balance to withdraw if your event has already passed the 48-hour withdrawal period.
How do I calculate how much has been deducted from my available balance?
To calculate how much will be deducted from the Host's available balance, download the chargeback report from either the Account or Event Listing.
Add up all 'Open' disputes:
Once Host's have downloaded their report, filter to view only chargebacks with an 'open' status. From this filter, add up all amounts in the 'Chargeback Fee' and 'Net Sales' columns.
Add up all 'Lost' disputes:
Once Host's have downloaded their report, filter to view only chargebacks with a 'lost' status. From this filter, add up all amounts in the 'Chargeback Fee' column.
Add together the Lost + Open numbers from above and that will be the total amount being deducted or withheld from Host's account balance.
If you have any further questions on chargebacks, feel free to contact us.