Sometimes it is hard to know what to do if there is a charge on your account that you didnāt authorize or want to stop. Weāve created this helpful guide to help you determine if you should dispute a charge or report it as fraud. Note that our policies and procedures for processing fraudulent and disputed transactions are governed by Mastercardā and the Electronic Funds Transfer Act, or Federal Regulation E.
Is it a dispute or fraud?
If you initiated a transaction that doesnāt appear correctly on your account, your first course of action is to attempt resolution of the dispute directly with the merchant. Please contact us if you are unsuccessful at resolving your dispute with the merchant and share with us any documentation on your attempts to work with the merchant. Once we receive this information from you, we will submit the dispute on your behalf to Mastercard. Mastercard will make a final determination as to whether we can charge back the transaction to the merchant for your purchase. If we can charge back the transaction, you will be reimbursed for the purchase. However, if we cannot charge back the transaction, you will not be reimbursed for your purchase.
Some other things to consider as you weigh whether a transaction is a dispute or fraud:
- Check your recurring subscriptions. If you simply donāt want it anymore, cancel it with the merchant. This is not fraud.
- Is the transaction a result of you signing up for a āfree trialā for something, yet it required you to use your debit card or credit card number to pay for āshipping onlyā or another similar charge? This is not fraud. Be careful giving your card number out for āfreeā things ā because they arenāt āfreeā if you must input your card number. Read the fine print before going forward with any purchase like this.
- Did you voluntarily give your debit card number to anyone over the phone, provide it on a mailed form or email, or enter it on a website? This is not fraud.
- Did you give or loan your debit card to someone? This is not fraud.
When itās fraud and what to do
A transaction that is posted to your account that you did not authorize and is a result of a ānoā answer to all the questions above means that the transaction is considered as fraud and should be reported as such.
Haste is important with fraud claims, so please be sure to contact our MasterCard Stolen & Dispute line at 833-305-9994 or 833-305-9996 as soon as possible. We must be notified within two (2) business days of the date you first became aware of the unauthorized transaction or the loss or theft of your card so we may close the card and prevent further unauthorized activity. Failure to do so may increase your liability to $500. If you do not notify us within 60 days of when the unauthorized transaction appeared on your statement, you are liable for the entire transaction amount.
If you believe someone used your Debit or ATM card and PIN to complete an ATM withdrawal without your permission, please call us immediately at 313-389-2300 during business hours or 833-305-9994 after hours to close your card to prevent any further fraudulent transactions on your card.
ā
