Cardholder using credit cards to make payments are eligible to apply for a refund of the payment except credit card installment plan* under specific circumstances such as transaction was double or triple charged, service/goods was not rendered after one-off pre-payment by merchant.
However, the chargeback applications are subject to certain rules and criteria set by the respective card association such as Visa International, MasterCard International and China Unionpay (together namely “Card Association”). The Bank as card issuing bank is required to follow the Card Association’s chargeback time limits prior to raising chargeback request against the merchant acquirer via the Card Association platform.
* Credit Card installment plan is a loan agreement between cardholders and the Bank. The Bank advances a one-off loan to cardholders and has paid the full amount to the merchant, while cardholders undertake to repay the Bank by installments.
Note: The above is showing the general workflow. The merchant acquirer may dispute the validity of chargeback claim and reject to refund. If the cardholder(s) does not agree to the result, the card issuer may in accordance with the rules of the respective card association submit the disputed transaction to the Card Association for arbitration. There will be another 45 days (for Visa/MasterCard International only) being granted for processing relevant arbitration request before issuing the conclusive chargeback result. For China Unionpay, a member must submit the Arbitration request within 60 days after the completion of the dispute resolution cycle (subject to the date on the postmark of the application).
Please note that a “Dispute Handling Charge” per each disputable or questionable transaction will be imposed (Please also refer Fee Schedule of ICBC Credit Card) at the time of suspension for temporary repayment during the investigation period. The relevant transaction amount together with the finance charge and other related charges, if any, will only be debited into the cardholder’s card account if it is proved that the transaction should be borne by the cardholder. After relevant charges debited to the cardholder’s account, the Bank shall inform the cardholder of the nature and amount of charges debited to their accounts promptly.
After receiving the dispute from cardholders, our Bank shall submit the request within the time limits of respective card association as below:
|Non-Delivery of goods/services|
|By Merchant||Due to merchant closure|
|Visa / MasterCard International||Within 120 days from the agreed delivery of the goods/services AND not exceeding 540 days from the date of the transaction||Within 120 days from merchant closure AND not exceeding 540 days from the date of transaction|
|China Unionpay||Within 180 days from the date of transaction||For Local: within 360 days/180 days from the date of transaction due to merchant bankruptcy/closure respectively
For Overseas: within 180 days from the date of transaction
Please note that the Bank as a card issuer is not the responsible party of relevant disputes investigation and has no influence on the claims decision. Upon receiving the completed Request Form, the Bank will review the Request Form together with all relevant supporting documents and check against the time limits of respective card association. If the chargeback request is within the time limits of respective card association and no discrepancy found between the Request Form and supporting documents, the Bank will raise the chargeback request via the Card Association platform. Once raising out the chargeback request, the Bank takes no other action unless further information is requested by Card Association. When the Bank receives the chargeback result, the Bank shall inform the cardholder promptly.
If cardholder(s) comes across any problem or would like to check the status with the questionable transaction, please feel free to call our 24-hour customer service hotline at (852) 218 95588.