^{Customers in need of extra care} Disputing a transaction on your card

In the modern world, a card is almost always used to pay for any transaction – online and in-store shopping, bill payments, subscriptions, school fees, and many more. Hence, it is important to regularly check your bank statement or credit card bill in case for any discrepancy or improper activity. If you see an error in your statement or credit card bill, you should notify your bank and file a dispute immediately.

Follow these general guidelines to dispute a charge:

Find out if it is fraud or an error

If you suspect fraud

If you detect a fraudulent charge on your card, such as purchases you did not make, contact your bank or credit card company immediately. The compromised card will be blocked to prevent further misuse. The bank or the card company will generally launch an investigation on the unauthorised transaction.

If you suspect an error

Transaction errors may include (but are not limited to):

• Duplicate charge (i.e., if a transaction was charged twice)
• Incorrect amount charged
• Goods or services that were not delivered or were cancelled (proof of cancellation will be required)
• Credit posted as debit
• A payment made by other means (e.g., if you paid in cash but were also charged on your card—proof of payment will be required).
• Refund credit not received for an item you have returned

Notify the merchant

The easiest way in resolving a billing discrepancy is by contacting the merchant that claimed the charge.

For in-store shopping, you can immediately inform the merchant by showing the receipt or card statement. Or you can contact the vendor’s customer service and raise the issue.

For online purchases, you can send an email or call the merchant’s customer support and share the relevant documents to resolve the dispute.

In both cases, the merchant can either cancel or reverse such charges.

Contact your bank

Any discrepancy in the statement must be reported within 30 days of the statement date. If no discrepancies are reported, the contents of the statement will be assumed to be accurate and binding in every respect. Financial institutions provide support in case of disputes by contacting their customer service number.

Make sure that the following information and supporting documents are available when you get in touch with the financial institution:

• Your name and customer identification number
• Transaction date and posted amount charged
• Merchant name or transaction description as it appears in the statement
• Short explanation why you are disputing the charge or transaction
• Attempts to contact the merchant and resolve the issue
• Copies of receipt, statement, or proof of transaction

If your transaction is disputed successfully, the charge will be refunded. If your dispute is denied, you will be responsible for paying the charge, including any finance charges that may have accrued. Refusing to do so can negatively impact your credit score.