What Is a Retrieval Request?

What Is a Retrieval Request?

A retrieval request occurs when a credit card issuer or the cardholder asks a merchant for a copy of a transaction ticket. If a cardholder or issuers disputes a transaction, the request is the first step taken to resolve the matter. The request most often occurs when cardholders lose their copy of a transaction and need it for their records or when questioning a transaction.

Reasons for a Retrieval Request

There can be several reasons for a retrieval request. A customer may want to dispute a transaction, or simply ask a question, with respect to merchant accounts, due to inaccurate or incomplete information about the transaction, or request that a processing error be corrected. The bank, if contacted by the cardholder, can then request a legible copy for proof of what occurred.

After the merchant has received a retrieval request from the cardholder’s bank, the merchant is given between 10 and 20 days to rectify the situation. In reality, the time frame depends on the cardholder’s bank. Assuming the merchant does not respond to the cardholder’s bank, a chargeback will occur with no reversal rights for the merchant.

About Chargebacks

A chargeback, money reversal, usually happens at the direct request of the cardholder. The reasons for a chargeback may result in the goods not having been shipped, the wrong item having been shipped, or the cardholder’s credit card was used without the cardholder’s authorization. Illegal transactions do occur during as a result of fraudulent credit card processing.

If the merchant is contacted directly by the cardholder, it is recommended to contact the customer by email or telephone. Quite often, the matter can be resolved at this stage and is often in favor of the merchant. Customers sometimes forget they made a particular purchase.

What Are the Time Restraints of a Retrieval Request?

The cardholder’s bank has up to 18 months from the date of sale to submit a retrieval request. It’s crucial that a cardholder properly maintain records of their merchant accounts for the 18-month time frame. The cardholder may be asked to produce legible copies of sales drafts. During the process, the disputed amount remains in the cardholder’s deposit account.

Merchant banks provide merchant accounts and handle credit card transactions along with credit card processing.

Why Debit Cards and Credit Cards Have Different Processing Rates

When accepting payments via debit and credit cards, one will notice that providers often charge different rates. The reason for this is not always known to the average entrepreneur. However, there are a few reasons why this is the case. With this in mind, here are three reasons why debit cards and credit cards have different processing rates.

Fraud: First and foremost, when accepting payments in multiple forms, it’s likely that a business owner will deal with plenty of fraud. Think about it, the minute a person steals a credit card, he or she is likely to run to a store or online retailer. Then, they are likely to use it to buy goods or services. On the other hand, with a debit card, one must use a pin, which is harder to steal. For this reason, credit card processing is often more expensive a merchant account providers need to worry about fraud with credit cards.

Technology: Without a doubt, when looking at the technology to accept payments via credit and debit cards, one will be in amazement. While true, because of ant-fraud measures, among other things, credit card process is costlier to the business owner. Then, when this happens, many store owners will pass the cost onto local consumers. Either way, with merchant accounts, one will pay a higher fee when dealing with credit cards.

The market speaks: Finally, most business owners prefer to take credit cards for a variety of reasons. Not only do credit card buyers spend more money, they are likely to come into the store or head online. On the other hand, people use debit cards out of convenience, when they are not carrying any substantial amount of cash. For this reason, stores will often get charged a higher rate to take credit cards. Remember, in the free market system, a credit card payment processing company can charge high rates if consumers demand the services. On the other hand, debit cards are used for low-end transactions, which don’t bring in as much revenue. The net effect is, people are not willing to pay high fees to accept debit.

When looking at merchant accounts, it’s obvious that it’s more expensive to accept credit cards. Though, the reasons are simple and make sense to a person who doesn’t mind delving a little deeper into this important subject. In the end, it’s wise to accept both payment forms.

Why Qualified and Non-Qualified Cards Have Different Processing Rates

Companies that accept credit (and debit) cards for their transactions receive credit card processing accounts so that they can do so. However each card processing company has its own set of rules regarding the specific information about customers that holders of merchant accounts must obtain and the verification of their identities. Those credit cards that conform to these rules are said to be qualified; all others are non-qualified and have different processing rates from qualifying cards. All credit card transactions carried out otherwise than face-to-face, whether by phone or online, are also considered to be non-qualified regardless of whether the card itself is qualified. Some of the reasons for this will be explained below.

Credit card fraud

The fraudulent use of credit cards is one of the major problems that the business world has to face. Thieves steal people’s credit card information and use it to make purchases for themselves. They might also steal their whole identities and use them to open credit card accounts for which their victims are on the hook. Whatever the case, credit card processing companies as well as card owners must bear the burden of such fraudulent activity. To guard against such dangers, card processing companies must charge more than they normally would or else collect a fee for special protection.

Noncollectable accounts

Another problem with credit card accounts is that customers may default on their payments and thus render them noncollectable. Card processors have to charge an extra fee to provide protect against such “bad debts.”

Which cards are qualified and which ones are not?

General purposes cards such as those issued by the major companies are almost always qualified. Those that have been created for special purposes, such as business and rewards cards, are almost never so. Payment made on credit cards of any kind can also be considered non-qualified if the holders of the merchant accounts violate the rules of the processor, e. g. if the signature was not obtained or the data was not properly handled. This is likewise true if security requirements were not met, which is why online and phone transactions are non-qualified: They do not require the signature of the customer.


Credit card merchants know that they will have to pay extra for non-qualified cards or transactions. That is why they try to stay as much within the rules as possible.



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