With millions of credit card transactions occurring every day in Australia, there’s bound to be some that don’t go to plan.
Unless you frequently go through your bank account statements with a fine tooth comb, it’s likely that you could miss transactions that occur without your knowledge.
Here’s where to start if you find an amount on your credit card that you didn’t authorise.
- Call your bank
In an effort to keep their customers happy, many leading financial institutions have a quick turnaround time policy. However, if you find yourself transferred to an overseas call centre you may find yourself on hold for a while, so put your phone on speaker and get back to whatever you were doing.
- Submit an enquiry online
Depending on your bank you may have an online option to submit your dispute. This can be the easy option if you can’t risk being on hold for a long period of time. The standard turnaround time for online enquiries is 3 working days.
- Visit your bank
If you have a bank nearby, just go in and see them. The turnaround time will be quicker and it can be easier to explain your situation face-to-face.
The key to getting your money back in the fastest time possible is:
- Get in touch with your bank ASAP. If it is a case of credit card fraud, or a lost bank card you’ll need to cancel your card as soon as possible to avoid additional money being taken out of your account.
- Remember you’re dealing with a person. When you call up the bank, remember you’re talking to a person not a machine – be polite and try not to get emotional.
- Be prepared. Make sure you have your bank statement and account details with you so you can refer to the transactions in question. Have paper and a pen nearby so you can write down the person’s name who you’re speaking to, the reference number and other details of your enquiry.
- Be patient. It can take a while for credit card disputes to be fully resolved. Stay patient and stick to your guns – getting your money back will be worth it in the end.