Dispute and Refund Policy

Last updated: March 24, 2026

1. Purpose

The Disputes policy outlines conditions under which chargebacks can be filed and how the merchant will respond to them. The Refund policy outlines how customers can request refunds and the conditions that must be met.

2. Objective

It's essential to detail the process for resolving disputes, including timeframes, steps, and required documentation to provide customers with a clear path for dispute resolution.

Refunds involve returning money to a customer after a transaction. The refund process explains conditions for refunds and the timeframe for processing them.

3. Policy Statement

A dispute occurs when an account owner contacts their bank to contest a payment to Oak Key. When an account owner disputes a charge, the Merchant:

• Notifies Oak Key of the dispute through the merchant Dashboard.
• Debits the dispute amount, plus a dispute fee from Oak Key's account.
• Provides Oak Key with an explanation of the dispute and access to the account owner's claim to their bank.
• Steps Oak Key through the process of submitting evidence to counter the dispute.

Inquiries

Some card networks initiate a preliminary phase before creating a formal dispute and chargeback. During the inquiry phase, the cardholder's bank requests transaction clarification. Oak Key can resolve the case without incurring a dispute fee by providing satisfactory evidence or by issuing a full refund.

During the Dispute

When an account owner files a formal dispute against a payment, the action initiates a chargeback where the card network pulls the funds from Oak Key's balance for the entire duration of the dispute.

Receiving a Dispute

• The card network debits Merchant for Oak Key's disputed payment and related dispute fees.
• Oak Key can't issue a refund outside the dispute process while the dispute is open.
• Oak Key's dispute rate with that card network increases.

Timing

Card networks typically allow cardholders to initiate disputes within 120 days of the original payment. Following the creation of the chargeback, Oak Key has a limited amount of time (usually 7–21 days, depending on the card network) to respond to the card issuer.

The full lifecycle of a dispute, from initiation to the final decision, can take as long as 2–3 months to complete.

Responding to a Dispute

In most cases, you have the ability to challenge a disputed payment, as long as Oak Key submits strong evidence to the card issuer before the deadline. Submitting evidence is what signals to the issuer that Oak Key doesn't accept the dispute and wants to have the funds returned.

4. Definitions

Chargeback

A chargeback is a transaction reversal that occurs when a customer disputes a charge on their credit card. It is a form of consumer protection that allows customers to dispute unauthorized transactions or transactions that were not fulfilled as promised. Chargebacks can occur for various reasons, such as fraud, goods or services not delivered, or defective merchandise.

Refund

A refund is a return of funds to the customer by the merchant — a voluntary action taken to provide customer satisfaction or to rectify a mistake. While both chargebacks and refunds result in the return of funds, the key difference is in who initiates the transaction:

• Chargebacks are initiated by the bank or credit card issuer.
• Refunds are initiated by the merchant.
• Consumers should always try to resolve issues directly with the merchant before filing a chargeback.

5. Review

This policy will be reviewed on an annual basis.