Most Common Causes. As the definition suggests, a Reason Code 74 is issued when the merchant does not deposit the sales receipt with its merchant account provider within the time frame specified in its merchant processing agreement.
- Back-Office Staff.
- Sales Receipt Deposited on Time. If the sales receipt was deposited within the 30-day time frame, you should provide your merchant services provider with a copy of the sales receipt to be represented to the card issuer.
- Sales Receipt Deposited Late - Account Closed. If the sales receipt was not deposited within 30 to 180 days of the transaction date and the cardholder account has been closed, there is no remedy and you should accept the chargeback.
- Sales Receipt Older than 181 Days. If the sales receipt was deposited more than 181 days after the transaction date, even if the card account is not closed, there is no remedy and you should accept the chargeback.
- Deposit Timing Guidelines. Your back-office staff is responsible for the timely deposit of sales receipts with your merchant account processor and they should do so as soon as possible, preferably on the date of the transaction and not past the time-frame, specified in the merchant processing agreement.
- Manual Deposit of Paper Sales Receipts. It is the responsibility of your organization's senior management to train the back-office personnel to deposit sales receipts on time. If your business deposits paper receipts, which take more time to handle, make sure that they are deposited within the time frame specified in your merchant account processing agreement.
- Transaction Data Capture Terminals. Transaction data capture systems can be set up to automatically deposit your daily transaction batches, saving you time and substantially reducing, possibly eliminating, the probability of a chargeback Reason Code 74.