Electronic Exchange Systems
1 (877) 865-7744
Register Now for EXS

Retention of Sales Drafts

In order to properly address chargeback issues, merchants must retain signed copies of sales drafts bearing cardholder signature to address cardholder inquiries and requests for copies. EXS requires retention for 18 months of your MasterCard and Visa transactions. The original draft or a legible copy should be stored for 18 months from the date you were paid for the transaction.

Stored sales drafts and other transaction data should be safeguarded, with limited access. Merchants must keep all systems and media containing cardholder, account or transaction information (whether physical or electronic) in a restricted, secure manner so as to prevent access by or disclosure to any unauthorized party. At the end of the 18-month retention period, transaction data such as sales drafts, reports, and other media with cardholder account data must be rendered unreadable prior to being discarded. If you have PC access to transaction information, then you must not dispose of the PC until information has been rendered unreadable or has been shredded.

You should always keep complete records for all credit card transactions for chargeback requests. Do not store sales drafts in alphabetical order by customer, as the cardholder name is not part of the retrieval request record. We recommend using a storage system that is sorted chronologically by date, and then by cardholder account number.




CONTACT US |  EXS is a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, CA