Reversal means the action of return an amount charged improperly, such as credit card chargeback or bank chargeback.
For example, the credit card chargeback occurs when an establishment or the card brand charge an extra or doubled amount.
The credit card chargeback works as follows: when verifying the undue amount, the customer of the card complains about this amount that it did not spend, or the card company's own system notices the error. From this, the customer has the amount credited on the same invoice, that is, he earns the same amount in credits to deduct the credit on the invoice.
The customer can also request a chargeback on the card for a purchase that he or she has withdrawn. For this you should consult the conditions contracted with the card brand to know how to proceed in this specific case.
Reversal of debits on the card works the same way, and as with bank reversals, instead of the wrong amount being credited on the invoice, it must be entered into the checking account days after the error was registered. The terms and rights of the consumer corresponding to the credit reversal are in Federal Decree 6523/08.
Legally, the word reversal is used as the act of removing the effect of what was previously agreed, being a contract termination or annulment.
In English, the word chargeback can be translated as chargeback or reverse.
Some synonyms of reversal in Portuguese are the words return, restore or refund.
Reversal or Chargeback
The correct spelling is chargeback. The word reversal is a masculine noun and comes from the verb reversal, which means to return.
It originates in Italian reverse, so writing is always with S.
The word is a reduced version of distort, translated as return, which concludes from the Latin roots dis, which means distancing and become, which is back to the starting point.