What does it mean to pre-arbitrate the bank card acquiring dispute (POS machine) of Shanghai China Bank?

Pre-arbitration of acquiring dispute of Shanghai bank card special merchant business (POS machine): It means that the issuing bank and acquiring institution hold their own words and submit the disputed transaction to the foreign card organization, which will make the final decision. Generally speaking, merchants need to provide complete transaction documents, showing clear transaction contents, including card number, date, amount, authorization number and other information, and the cardholder signature column contains complete and clear cardholder signature. If possible, the merchant should provide bills, transaction details, invoices and other documents to prove the authenticity of the transaction, and also need to provide a letter of explanation in Chinese and English, which should be checked in the reply before arbitration. If the merchant chooses to continue arbitration, it will also pay an arbitration fee of $500.

If in doubt, please consult the online customer service of China Bank or download and use the mobile banking APP of China Bank to handle related business.

The above contents are for your reference. Please refer to the actual business regulations.