Reason Code RN2: Credit Not Received

The cardholder claims the merchant promised a refund, but they haven’t processed it yet.

• The cardholder rejected the delivery of services and merchandise but hasn’t received a credit.
• The cardholder returned the merchandise, and the merchant agreed to a refund but hasn’t processed it.
• The merchant doesn’t give refunds nor accept returns.

• Have a clear and easy-to-find cancelation or refund policy.
• Fulfill the refund and cancelation requests promptly so that they appear on the cardholder's following statement.
• If you plan on crediting the cardholder for a smaller amount, notify the cardholder before processing the credit.
• Don't accept a return if it's not in line with your return policy.
• Explain if you accept returns or follow a limited return policy.
• Notify the cardholder when you process the credit.

The dispute filed by the cardholder cannot exceed being filed 540 days after the following:

• The date of the transaction
• The date of receiving the credit
• The date of returning the merchandise
• The date of service cancelation
• The date of making a reservation  

However, issuers must wait 10 days following the reservation or cancelation date or when the merchandise was returned to file a chargeback. 

If the retrieval request is returned to the issuer by the acquirer after the 120-day deadline, the issuer gets an extra 30 days to file a chargeback.