A retrieval fee is charged when a customer or the customer’s issuing bank requests a copy of a sales draft in order to verify a transaction. This is called a retrieval request, and most credit card processors charge retrieval fee to process the request. Host Merchant Services charges a Retrieval Fee of $20.
A retrieval request is sent by a cardholder’s issuing bank to the processing bank which sends the request to the business. At this point a processor will assess a retrieval fee. A retrieval request does not involve the refund or reversal of a transaction. A reversal is initiated only if a chargeback occurs.
The best way to prepare for retrieval requests is to abide by Visa and MasterCard regulations that require businesses to save sales receipts. Visa requires sales drafts to be saved for a minimum of three years, and MasterCard requires receipts to be saved for 180 days. In the event of a retrieval request, Host Merchant Services works tirelessly with the merchant and issuing bank to make sure a chargeback is not initiated.