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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.