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Disputed Transactions on your Visa
Member Name: donkeydonna
Date: 21/04/02, updated on 21/04/02 (407 review reads)
Advantages: This all depends on your card issuer
Disadvantages: and so does this!
I work for a credit card issuer, and thought it would be beneficial to point out some facts to help you deal with your Visa credit card and disputed transactions.
Some of the advice might be common sense, so I will apologise if I sound a little obvious with what I say.
* My first piece of advice is always checking your statements (even if you're not spending on your card). So many people don't bother to check the spending and miss fraudulent or unexpected transactions, or irregularities.
* Always contact your issuer if you spot something out of the ordinary. Each bank has different ways of dealing with disputes, but they all have stick to the same rules.
*When ordering goods, booking a holiday, entering into and agreement where credit card details are required, always keep copies of everything, and make sure you have contact details for the seller or merchant. Be aware of the terms and conditions of the transaction e.g. refund policy, cancellation policy, dates, sizes, costs. It is easier to query and clarify such things at the time of making the transaction.
*Remember that by providing your credit card details you are authorising the debiting of your account, this can be done without a signature or swipe/imprint of your card.
*If you have a problem talk to the merchant, they may be more helpful than you?d expect. However all credit card companies have time limits within which disputes must be dealt with, so tell them you?re having a problem they will let you know what timescales they have available to be able to assist you.
*Non-receipt of Goods
If you order goods by mail, phone, or Internet and don't receive them, your issuer can intervene and credit your account after a 60-day period.
*Defective or damaged merchandise
If merchandise is shipped to you and is received in a damaged or defective condition your credit card issuer can assist in obtaining a refund. However be pre
pared to return the merchandise, and waits for a period of 30 to 60 days before they can initiate a credit.
*Merchant in Liquidation
Contact the liquidators or bonding authority (where holidays are concerned) hey will advise you on how to proceed, but if they don?t reply contact your issuer.
These fall into two main categories
- Don't recognise the name? Some shops process transactions through head offices or groups (E.g. Arcadia - topshop, dorothy perkins, burtons). These can also show up as different locations. Your issuer can request a copy of the transaction receipt for you (some issuers charge for this).
- Fraudulent transactions. No matter how much you think about it, you know its not yours.
In both these cases speak to your card issuer they will advise you on how best to deal with the situation.
Well that?s it for now, if I think of anything else I?ll add it on.