A chargeback is a reversal of a payment that a cardholder initiates through their bank or credit card issuer, rather than directly with the merchant. Chargebacks exist to protect consumers from fraud, unauthorized transactions, or failure to receive goods and services as described. When you file a chargeback, your bank investigates the dispute and, if resolved in your favor, credits your account. While chargebacks are a powerful consumer protection tool, misusing them (known as 'friendly fraud') can result in account restrictions.