Reason Code / Chargeback Reason Code

RC or also CRC was designed to systemize the archive of reasons why a financial institution may file a credit card chargeback from their client’s name. During this process, the representative of the financial institution examines the reasons’ list and chooses the most applicable RC for a particular situation. In addition, this person also denies the claim if none of the listed reasons can’t be applied.

The RC is used to mark particular reason by numbers. The main function of it is to outline the reason for the dispute around the transaction. Nevertheless, this series of actions can provoke a misunderstanding first of all at the trader’s level, where there is no access to the process of assigning of the RC.

Such codes can vary from frauds, no authorization, and an incorrect amount of funds as well as processing error and consumer disputes. Each type of RC has many subtypes which are indicated by different sets of numbers.  

By creating RC the financial institution tries to empower the clients with information about the chargebacks. The customers shouldn’t have any problems with money management so this system of ciphers exists in every bank.

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