Reason code · Mastercard
Mastercard 4860: credit not processed
4860 means the customer says they returned something or cancelled, and the refund never arrived. Mastercard now handles it under 4853 Cardholder Dispute. The bank usually files 15 to 120 days after the refund, cancellation or return date.
What 4860 means
4860 is the old Mastercard code for Credit Not Processed. The customer says they were owed a refund and never got it.
Mastercard has moved it into 4853 Cardholder Dispute, as the Refund Not Processed condition. Its Chargeback Guide says banks may still use 4860 for now, but the code will eventually be eliminated. Same rules either way.
What the customer told their bank
“I sent it back.” “I cancelled in time.” “They told me a refund was coming.” Banks often ask for something that shows it, such as a refund receipt, a cancellation confirmation or a return label.
Time limit
The bank generally waits 15 days after the date on the refund document, the cancellation date or the return date. It must file within 120 days of that date. If waiting the 15 days would push it past 120, it can file early.
Your clock is the due date on your notice. Mastercard gives your bank 45 days to respond, and your processor keeps part of that.
What proof matters
Either the refund you already issued, with its date, or the refund or cancellation policy the customer saw before paying, and the dates showing they didn’t meet it.
Check your refund history first. If you already refunded before the dispute arrived, that refund is your answer, and your response should point to it by date and amount. Banks occasionally miss a refund that crossed paths with the dispute.
Your policy only counts if they saw it
Mastercard’s rules expect you to accept returns and cancellations unless you disclosed specific terms at the time of the sale. A “no refunds” policy buried on a page the customer never saw does little. A policy shown at checkout, or signed, is a different story.
The common mistake
Refunding after the chargeback lands. The bank already took the money back. Refund again and you can pay twice. If the customer is right, accept the dispute through your processor instead.
Dispute Daddy builds this for you
Dispute Daddy builds the response from your notice, your policy and your refund records, and keeps the deadline in view. You approve it and submit it. See pricing.
