Portal Home > Knowledgebase > Articles Database > Another Instabill question!...can't get an answer too
Posted by knipper, 05-24-2001, 12:51 PM I just signed up for instabill...but have not started using it yet....while I explore actual merchant accounts. Here is a scenario I just thought about.... You sign up a customer for an annual plan at $500.00, The "buyer" uses a stolen card. At this time instabill takes their 10% (actually 20% 10% commision...10% chargeback fund) Several months later...the real card owner catches it, and reports the card stolen/fraudulent charge, etc. At this point after investigation, instabill issues a chargeback for $500.00.....I have to assume since they only took 10% that goes toward fee's, etc. because it can not cover the whole amount that needs to be paid back to the CC agency. And they surely are not going to let you keep the $400.00 they credited you for the "sale" you made. So now...not only are you out the $100.00 in "commision and chargeback fee" they kept....but also the whole amount of the chargeback, plus the few months you had some jerk using your server space. Is the above scenario how this would actually work?? can anyone shed some light? Thanks!
Posted by Chicken, 05-25-2001, 11:52 PM You posted this in this thread: http://www.webhostingtalk.com/showth...threadid=11317
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