My Merchant Account Blog

Retrieval Request

Wednesday, October 27, 2010

A retrieval request happens when the cardholder’s bank asks for a readable copy of the transaction sales draft.  Things like billing questions, fraud inquiries, POS mistakes and cardholder disputes are among a variety of reasons for a retrieval request.

MasterCard requires merchants keep their sales drafts in storage 180 days; Visa has a three-year requirement.  It is advisable to keep these records seven years, however, for your business tax purposes. 

There are ways to avoid retrievable requests.  Whenever possible, obtain a card imprint and make sure the customer signs it.  Check all the card’s security features and compare the signature on the card to the customer’s signature. 

Since time and money are involved in this type of request, there is usually a (retrieval request) fee involved.

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