Getting hit with a chargeback is one of the most frustrating parts of running a business.
Chargebacks occur when customers dispute a charge on their credit card statement with the card-issuing bank. Maybe they were unsatisfied with the purchase or just didn’t recognize the charge on their statement. Whatever the customer’s reason for contesting the charge, the issuing bank attempts to resolve the matter with the merchant.
This is a huge headache for small business owners. Typically, a payment dispute results in your funds being held while the issuing bank decides the validity of the charge. This can create a cash flow crunch, limiting your ability to pay staff, pay rent or buy supplies.
Square is always there to help you through the chargeback process. If you ever get hit with a chargeback, all you have to do is provide Square with some basic information about the payment so we can fight the dispute on your behalf. Even better — we don’t hold your funds while the dispute is being resolved.
Dispute Management is free for all Square sellers, and all sellers are covered — no sign-up required. It’s just another benefit of selling with Square.
Read more about tips on avoiding chargebacks, check out our best practices for accepting payment cards safely.