Have you ever felt cheated and in need of a chargeback but your bank gave you a hard time so you ended scammed by the broker and mistreated by the card issuer? I bet that can leave a bitter taste in your mouth. Maybe all that can stop, because today I’ll review a service that can offer assistance for chargeback disputes: MyChargeBack.
What is a Chargeback?
Many of you are familiar with the term but just to make sure we are all on the same page, I am going to explain it: banks provide their cardholders a form of protection against merchants, known as a chargeback. This is a refund initiated by the bank for a purchase done through a credit card; in other words, when the credit card user identifies an unauthorized transaction on their card statement, he/she contacts the bank, asking for a chargeback instead of claiming a refund from the merchant.
Now let’s put this in Binary Options terms: when you tell your broker to charge your credit card 500 bucks but they charge you 2,000 and give you bullsH2t like “Oh, but I made you a VIP member now, so I needed to charge 2K”, you don’t talk to them anymore, you ask your bank for an immediate chargeback. If the broker is honest, they won’t charge you more in the first place, and if they are dishonest, there’s a high chance you won’t get a refund from them directly. So, there’s no point in wasting your time listening to cheap excuses like “We are doing our best but there’s a problem with our payment system” or “Your account manager is on vacation and only he can solve this”. Instead, you go to the card issuer (bank) and file a request for a chargeback.
This sounds nice and easy but the reality is that chargebacks are not always easy and you have to follow some strict guidelines if you want to succeed. Here is where MyChargeBack comes into play so let’s learn more about them.
What is MyChargeBack And How Does It Work?
Mychargeback.com is a service owned by Cactil, LLC, USA, located at Cedarhurst, New York. They can be contacted via email: [email protected] or phone: (USA) 1-888-350-8030, (UK) 44-20-806-80493. Their main goal is assisting customers that feel cheated and are in need of doing a chargeback. For example, if your broker charges your credit/debit card without your consent, the guys at mychargeback.com will help you present your case to the bank/card issuer in such a manner that hugely increases your chances to get that chargeback. The thing with chargebacks is they can only be claimed once; there are no second chances, so if you present the information wrong the first time, the bank may decide your case is not good enough and dismiss your request for a chargeback, so the money will be lost forever. This is where MyChargeBack shines: they save you the headache and frustration by helping through the process, giving you the perfect case to present to your card issuer (bank).
For more complex cases – they will help you step-by-step throughout the average 2 month process with your bank. Some cases call for multiple calls to your bank, preparation of dispute documentation and one-on-one consultation to see you through the entire process. However much you require it, they are with you every step of the way. Other cases are far more simple – and may just require a quick consultation and review.
For simple cases, once you create an account on their website and pay a small fee (more on that later), you will be asked to complete an interactive questionnaire with details of your claim. Filling the questionnaire should take up to 10 minutes and depending on your specific situation, you will have to answer up to 20 questions. Once you’ve completed this stage, it will take MyChargeBack.com up to 3 hours to review your chargeback information and draft your personal report. Once you’ve received your report, you can download it and it’s now time to contact your Bank. You should have the report at hand when speaking to your bank’s representative because it contains all the information needed to ensure that your chargeback will be effective. If further assistance is required, a MyChargeBack representative can join you on the phone.
Whether or not you have a complex or simple case, MyChargeBack is intent upon giving you the winning strategy against scammers. MyChargeBack will provide specific instructions, tailor-made to your case and even the wording you need to use when speaking with your issuer but it is imperative for you to give them accurate information because their report’s accuracy (and thus the success of your chargeback) depends on it.
MyChargeBack Fees and Money-Back Guarantee
I mentioned before that you would have to pay a fee for their service. They are a business, not a charity and don’t help clients out of the kindness of their heart. This is normal! The fee for their service is as little as $72.00 and after your first purchase, you will get a discount so the price will be $52.00. They offer services for more complex cases but you will have to contact them to get more information. Each case can vary greatly – so talk to them to find out what works the best for you.
MyChargeBack offers a Money-Back Guarantee in many cases: if all the information you provided was accurate and you followed their instructions (the guide they provided) to the letter but your bank didn’t approve the chargeback, you can receive a full refund of their service fee of $72.00. Terms and Conditions apply to their various service packages so I recommend you read them on mychargeback.com and clarify any questions you might have.
Why Does MyChargeBack Suck?
Well, I don’t see a reason why. They help you get your money back and if they don’t succeed, they give you the service fee back. You have nothing to lose, so I don’t see anything that sucks here. But, you know me, I always find something to complain about, so here goes: Please proofread your content! Words like “comsumer” (instead of consumer), “spciecif” (instead of specific), “extensice” (instead of extensive) and many more, have no place on a website that is supposed to teach the client how to speak to a card issuer representative. Grammar Police, out.
Why MyChargeBack Doesn’t Suck?
Chargebacks sound simple but are usually complicated so you need someone in your corner, someone with expertise and the willingness to give you specific instructions, tailored to your case, not just guidelines or general information. We all know that brokers are not very eager to give your money back, so you need to do some extra “convincing”. MyChargeBack is a service that could help.
Conclusion – Should You Use MyChargeBack?
I incline to say Yes. I’m not good with paperwork and I don’t exactly know how banks work, so I don’t want to risk a failed chargeback just because I didn’t say what I was supposed to say, when I was supposed to say it. It’s true that you will have to pay a fee but you will have to decide where you want your money to go: to a scammer or to a company that helps you get your money back from that scammer. For me the choice is easy – not to mention that the fee is usually significantly lower than the amount you get back. However, some time will have to pass and we’ll have to hear some success stories before we can wholeheartedly say MyChargeBack are the answer to all your chargeback problems. So far, so good, but time will tell.