Errors on your credit card statement are forgivable, provided they are corrected. It could be a transaction you don’t recognize or a case where the merchant charged you twice. Either way, you should always report any inconsistencies in your statement to the bank immediately, who will give you the opportunity to dispute and reverse the erroneous charges. Act quickly if you suspect your card has been stolen as your account should be blocked immediately to prevent further fraudulent transactions.
Many of us use this means of payment to pay for our purchases at merchants or online. The credit card is linked directly to your checking account. This tool allows you to carry out transactions with ease. But, in case of problems, can we cancel a payment by credit card? If so, how can you prevent your account from being debited? What are the authorized cases to cancel a payment? Follow our advice to oppose your card.
Summary
Can I cancel a payment made by credit card?
Payment by credit card is irrevocable. It is therefore impossible to reconsider your decision once you have validated the payment by entering your code.
You must not oppose a bank card in order to cancel a transaction, unless you are in a very specific situation such as loss, theft or fraudulent use of your means of payment.
If you decide to object, your purchases will be blocked and you will not be reimbursed. Your bank card will be unusable for a week. Your confidential code will also be changed. And you will also be charged a fee!
To cancel an order, the easiest way is to contact the seller. Assert your right to consumption by asking for an arrangement. If it is an online purchase, there is a right of withdrawal.
Read also: How to cancel a payment by credit card on the Internet?
Obtain a refund of a payment, possible scenarios
In certain specific situations, you are entitled to demand reimbursement of your purchases from your bank. You then have 13 months to make your request by mail. However, it is advisable to make your complaint as soon as possible in order to avoid any attempt to oppose the bank. Indeed, the banking organization can accuse you of negligence.
Namely, to demand a refund, it is not necessary to have taken out specific insurance.
Flight, breach of trust or fraud
Your bank must reimburse your payment by bank card if you have given the agreement for payment without knowing the exact amount, if the amount in question turns out to be disproportionate in relation to your consumption habits, and if you are able to prove that you have been the victim of theft, breach of trust or fraud.
Legal redress or liquidation of the merchant
In the event of a commercial dispute (the merchant defaulted on you, for example), the bank is not obliged to reimburse your order. However, if the company receiving the payment is in receivership or judicial liquidation, the payment will be canceled after the consumer’s request.
Fraud
Was the payment order given by someone other than the cardholder, and without authorisation? In this case, payment by credit card is blocked. In addition to the theft of the card, it may be a counterfeit. The information relating to the payment order could also have been stolen.
How to cancel the credit card payment?
Send your letter to your bank within 13 months maximum, specifying:
- your credit card number;
- your full contact details (surname, first name, address);
- your current account number linked to the bank card;
- your reason for canceling the payment.
The letter must be dated and signed by hand. Send it by registered mail with acknowledgment of receipt.
Above all, never make a false statement. This is a misdemeanor punishable by a fine.
List of all banking transactions that you have the right to dispute
- Unauthorized transactions. Any transaction that was not made or authorized by you.
- Fraudulent transactions. A transaction that you believe was made fraudulently.
- Inconsistencies. Items on your statement that do not match the amounts shown on your receipt.
- Errors. Transactions that have been erroneously charged to your account more than once.
- Refunds. Refunds or credits that were not processed or were incorrectly processed as debits.
- Cancellations. Charges for a reservation you made but canceled during the cancellation period.
- Automatic payments canceled. A canceled automatic payment that is still charged despite your cancellation.
- Faulty or Faulty Goods. Goods which you have paid for but have not received, which have been delivered but are not as described or which have arrived faulty or damaged.
- ATM Errors. An ATM withdrawal that dispensed the incorrect amount of money.
What should I check before disputing a transaction?
First, please ensure that the accusation in question is indeed an error by following these steps:
- Check all of your receipts and transaction records for the period in question, paying particular attention to items from the same merchant or financial institution. Try to reconcile total amounts over the period, keeping in mind that some transactions may not be processed on the same day.
- See if you can relate the purchase to something else you purchased during the same time period, as some merchants may have different billing names than their business names.
- If you have an additional cardholder, make sure the purchase was not made by your spouse, for example.
- If it’s the amount that doesn’t match, check to see if an exchange rate, international transaction fee, or other additional charge has been applied by the merchant.
- If the transaction was for an automatic payment or direct debit that you believe has been reversed, contact the merchant for clarification. Some contracts specify deadlines for canceling automatic payments, making charges legitimate if your cancellation notice was given after that date.
If you still can’t resolve the issue after doing all of the above, contact your bank immediately to investigate.
