Chargeback protection is one of our most notable strengths and a key reason why many of our customers choose to process with First Horizon. We place great attention on the front-end to prevent chargebacks from occurring by improving the response to retrieval requests, which are the issuing bank's requests for a copy of transaction detail.
How Our Process Works
- We first send a daily retrieval fax (or e-mail) to all locations with outstanding retrievals.
- Any location with outstanding retrievals will receive a fax from First Horizon every day until a response is received.
- If a retrieval item has aged beyond fifteen days, the location will receive a second type of fax warning of the chargeback debit that may occur for failure to respond.
- First Horizon also provides a "Daily Corporate Summary Report" to the corporate offices, which indicates who has outstanding retrievals and reflects the age of the oldest outstanding item.
- All retrieval items aging beyond fifteen days generate an exception report in our offices and personal contact is made to individual locations.
- On a monthly basis, we can also create a report delivered to corporate offices reflecting retrieval performances by location.
- Our storage archives allow us to further intervene in the event that a chargeback occurs later.