Chargeback Reason Code 74 is expressed when card issuer receives a transaction post 30 days limit and the account is either closed or blocked on the date of chargeback processing date.
2. Introduction
C H A R G E B A C K E X P E R T Z
By examining chargeback reason codes, merchants are able to see
instructions in the working of their management. For an instance, there
are various Visa chargeback reason codes that result from processing
errors.
3. COMMON
CAUSES :
CHARGEBACK REASON CODE 74 IS ISSUED WHEN THE
MERCHANT DOES NOT DEPOSIT THE SALES RECEIPT
WITH ITS MERCHANT ACCOUNT PROVIDER WITHIN THE
TIME FRAME SPECIFIED IN ITS PROCESSING
AGREEMENT.
4. Possible Responses to
Reason Code 74:
Respond by providing the transaction receipt or other documentation
with a transaction date that disproves late presentment.
If sales receipt has been deposited on time, then the merchant can
contact it’s processor and ask them to forward a copy of the receipt to
the card issuer.
If the merchant has not deposited the sales receipt within 10 to 180 days
of transaction date and the cardholders account has been closed, then
accept the chargeback.
If the sales receipt was deposited more than 180 days after the
transaction date, the chargeback is valid irrespective of the cardholder’s
account status.
5. Tips to Prevent Chargeback Reason Code 74
Here are some guidelines to follow and prevent Visa
Chargeback Reason code 74
Chargeback Expertz
Deposit the sales receipt with the processor as soon as
possible.
Make sure deposits are made within the mentioned time limit.
Capture transaction data with Point of Sale POS terminal.
6. US HQ
10300 49th Street N Suite
427
Clearwater, Florida 33762
UK HQ
45 Rosehaugh Road
Inverness
Inverness-Shire IV3 8SW
+1 (844) 465 - 4723
app@chargebackexpertz.com
