What happens if the buyer attempts a chargeback?
The GunTab User Agreement strictly prohibits buyers from filing a chargeback with their financial institution and imposes a chargeback management fee of $1,000. By using GunTab, a buyer agrees that GunTab will be the sole arbitrator of any dispute with the seller. Filing a chargeback is a violation of the GunTab User Agreement.
Sellers are completely protected against chargebacks. If a buyer files a chargeback with their financial institution, the seller is completely protected because GunTab is escrow. This is different from a payment platform, which will immediately place a hold on the seller’s funds. If a seller receives a disbursement from GunTab, those funds belong to the seller.
Last updated 18 Jun 2021