What is the name of your state? Washington
We are an online merchant. We have a merchant account with Bank of America with Cybersource as the online processor. Our business is selling consumer items internationally (i.e. outside the U.S.). We made a series of sales several months ago, with payment received by credit card, which later turned out to be fraudulent use of credit card.
We then received charge-backs from these sales (where we had already delivered the product). We found that the chargebacks where withdrawing money from our account (which is with BofA) without any knowledge or prior warning.
In the course of receiving and fulfilling orders, we found that the Cybersource would "approve" credit cards in many cases where, if we contacted the issuing bank, we found that the credit card had been reported stolen or the account closed.
As merchants, we took the precautions that were recommended to us by B of A and Cybersource.
Is there any legal recourse to get our money back from these chargebacks from B of A?
We are an online merchant. We have a merchant account with Bank of America with Cybersource as the online processor. Our business is selling consumer items internationally (i.e. outside the U.S.). We made a series of sales several months ago, with payment received by credit card, which later turned out to be fraudulent use of credit card.
We then received charge-backs from these sales (where we had already delivered the product). We found that the chargebacks where withdrawing money from our account (which is with BofA) without any knowledge or prior warning.
In the course of receiving and fulfilling orders, we found that the Cybersource would "approve" credit cards in many cases where, if we contacted the issuing bank, we found that the credit card had been reported stolen or the account closed.
As merchants, we took the precautions that were recommended to us by B of A and Cybersource.
Is there any legal recourse to get our money back from these chargebacks from B of A?