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What is a chargeback?

What is a chargeback? Here are some definitions.

Noun
  1. (banking) A reversal of an accounting entry, especially of a disputed credit-card transaction.
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Examples
If you are away at the time it is sent, you lose the right to dispute the chargeback.
If it was not, you can ask the bank to chargeback the transaction as an unauthorised deduction.
No withdrawal fees to the client, but there is a 3-year declining commission chargeback schedule to the advisor.
Filing a chargeback or dispute with your bank will result in legal action against you.
I don't know if they nailed him later with a credit card chargeback, but I say kudos to him for giving us all a big laugh.
It does not confirm that the cardholder authorized the transaction nor does it prevent a chargeback.

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