Credit & Debit Card Fraud vs. Disputes, What’s the Difference & What to Do | Tech Tip Tuesday
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- เผยแพร่เมื่อ 29 ก.ค. 2019
- What do you do if you see a transaction on your credit or debit card statement that you don’t recognize? First, you need to determine whether you should dispute the transaction or file a fraud claim.
In this video, Dani goes over the difference between a card dispute and fraud and what to do in each situation.
EXAMPLES OF DISPUTES
➡️ You cancelled a card transaction with a merchant, but the merchant charged you anyways.
➡️ You purchased an item with your card and later returned the item to the merchant. However, your card was never credited back.
➡️ You were charged twice for the same card purchase.
➡️ You attempted to withdraw funds from an ATM, but for some reason the cash was not disbursed from the machine (most likely due to a malfunction), but your account was charged anyways.
➡️ You used your card to “hold” a purchase, then paid for the goods or services by other means, but you were charged on your card anyways.
➡️ What was supposed to be a credit (+) transaction to your account was inadvertently posted as a debit (-) transaction.
➡️ You were charged an incorrect transaction amount. For example, $100 instead of $10.
➡️ You have an issue with the quality of goods or services provided.
➡️ You never received the goods or services for which you paid.
RESOURCES
📰 Members Choice Credit Union, “Card Disputes & Fraud”- www.mccu.com/card-disputes-an...
📰 Members Choice Credit Union, “What is the Difference between Debit Card Fraud and a Debit Card Merchant Dispute?”- www.mccu.com/files/Cardholder...
📰 LOC Federal Credit Union, “Fraud vs. Dispute”- www.locfederal.com/fraud-vs-d...
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Thank you so much for all of your questions, and I hope this video is able to help you figure out your tricky situations. I will do my best to answer as many as I can to the best of my ability. Remember that credit unions are highly regulated, so there may be some things I can't answer due to that! Thanks! -Dani
What can I do if my global cash card company owes me money I got a replacement card and they only transferred half of the money I’ve been trying to dilute it with them but now there saying that the statements where wrong this whole time that I supposedly didn’t have that money in my account when I did .. who else can I get ahold of besides them since they are not willing to fix anything ?
Hi Tania. That just stinks, I'm sorry you're going through that situation. If I were you, my next step would be to look at www.ftc.gov/ to see if they have any useful resources. They have the Consumer Complaint form, and if you scroll to the footer of the website check out the "I would like to..." and "tips and advice" sections. I hope you're able to get things sorted out. -Dani
I wanna dispute a transaction that I did authorized but I never received my item and I called the person that I bought it from but they can’t do nothing about it so they told me to call my bank
Great explanation between fraud vs dispute. Thank you so much for sharing the knowledge :-)
Thank you very helpful
I wish more card holders watched this video. I work in card disputes and cannot begin to calculate how many customers report something as fraud immediately, fraud issues temp credit, then fraud rebills when they find out it was really a dispute with the merchant. Customers aren't able to then turn around and dispute the charge because the charge was reported as fraud first and the bank no longer has the ability to fight with the merchant on their behalf. Many consumers see something shady by a merchant and call it "fraud". (I ordered size large and got small, I ordered 1 and got 12, I ordered a shirt and never got it, I got charged twice, etc) None of those scenarios are fraud. Thanks for this quick video explaining the difference in an easy to understand way.
Thank you so much for the kind words, Terri. This means a lot coming from someone so familiar with card disputes. ❤ -Dani
Thank you so much!
You're welcome! I hope it helped you! - Dani
Entertaining!
Thanks you my professor today is my favorite day in this program and I didn't have any idea before but today my life has been changing and I thanks my universe
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Finished watching
Hey, basically I sell on depop however recently my account got hacked and I had 2 people on depop who payed via bank transfer so when I got hacked I lost all contact to the 2 buyers so I didn’t have any way in contacting them or seeing their shipping details to ship out their item, they then raised a claim to my bank and now my bank account is under investigation what does this mean if I have done nothing wrong and didn’t try to commit fraud? Can I not just refund the buyer or send out the item if they give me their details?
Hi Asmaa, I'm so sorry that my comment is coming to you two weeks late. Ultimately, I would contact Depop to 1) reclaim your account, and 2) sort out the dispute claim placed on it. I would hope that Depop would understand your predicament and work with you to sort things out with the customers. -Dani
this happened to my sister and dad to
This was very helpful because I was very concerned when I saw two entries as described above. When I checked the following morning they were gone. I am not sure why Wells Fargo is doing this, but I will be sure to ask them as it's very unnerving to see.
What happens when they send you a message back saying the case has been opened and to check “new documents” in 24-48 hours as related correspondence will be available for review? Do I have to do anything for that?
Definitely keep an eye on your email and whatever email portal to which they are posting information. -Dani
Hey, I was told I could make a down payment on an item and received an invoice, once I payed through Zelle I was told that due to a system error on this item only full payments would be excepted, this was after the fact and when I requested a refund I was told it wouldn’t be possibly because I didn’t complete the full payment.I called my bank to make a dispute claim but it’s killing me to wait and I was wondering for your opinion on the likelihood of me getting my money back.
Hello I was wondering how long you should wait for an item to come before filing a dispute
That's a great question. Have you tried reaching out to the merchant yet? Don't file a dispute until after you've tried to contact the seller at least once, if not twice (via email, phone, etc.). -Dani
This may be a little late but thanks for this video I recently found a dispute and received their provisional credit but just curious what happens after this I provided Lots of information showing that I was in the right I did not receive all the items was promised
Hi Michael! I just pulled our Plastic Cards Specialist into my office to see if she would have more insight on your question. She said that your card provider probably did some sort of investigation on their side, and the specifics of that investigation can differ between card providers. The provisional credit you received may be the end of the dispute process, but again it could differ. I would suggest reaching out to your card provider to see if there are any additional actions that can, or have been, taken on the back end. Hopefully that's somewhat helpful, and thanks for watching our video! - Dani
FCCU so I disputed a transaction with a seller because after I made a purchase of an item their whole stock and store had a sale with better discounts when I contacted them they became condescending and a bit patronizing anyways they recently shipped one of the items I disputed even though I received a credit for it what happens now because I don’t want my credit or account to take a hit like why still ship even though they had like 2/3 weeks prior notice... any insight or info on how this might go and how to prepare a defense if needed because this started since the 22nd of may and they just shipped around 3-4 days ago
@@talonabuser1072 Hello! I don't know why I wasn't notified of your comment, so I apologize for the delay. Unfortunately there's not much I can say on the legal front, but my best advice is to document and screenshot as much information as you can. Make sure to capture dates in those screenshots to back up your claims. -Dani
What about a company that had your card number four years ago and i have tried to dispute the same amount of time, and after four years later they tried to debit the card anyway without success because i changed the card, can i do anything to them
Hi Allan, have you reached out to your credit card company or financial institution? That's always the best first step. If they are charging your card without your permission (apart from that initial transaction 4 years ago that gave them the card information in the first place), that sounds like it should be disputable.
Robin Sparkles!!
I recently got an ACH Fraud from my debit card. Someone stole my information to my account and transferred the money to a different bank. I don't know what to do or the process of solving this.
Hello, I am so sorry that this has happened to you. Your best first step is to contact your financial institution and describe the situation to them. -Dani
I hadn’t used a charge card for two years and then got a statement where someone made 2 purchases from the UK. I called them immediately and explained the situation and told them to close the account and then I got notice that they removed the charges but they charged me fees. I refused to pay the fees because it was fraud and now I got a bill for a late fee. Can the charge card company do that?
i filed a claim on my debit card (chase bank) of 100$. i made the transaction and i got delivered the product or service. i received temporary credit in my bank account. do i face any legal issues ? can you help me with this please I am stressed and i dont know what to do
So my question is, what happens to the person that charged you in the first place. I get that if the dispute gets approved, you get your money back, but does the other person gets to keep that money? I got scammed through offerup, and the person completely ghosted me after I paid her (or him) through PayPal for an item that the seller claimed would ship to me right away, but never did. And even though I am happy I got that money, I kind of lose a bit of sleep thinking that the person still got that money, so I was wondering if the money gets taken away from the seller's account or the seller just gets to keep it?
Hello! Unfortunately the answer is "it depends." As a financial institution, most of our involvement and specialty is on the consumer side of things.
In the case of PayPal, I know that they have a set of policies in place to protect sellers and buyers. They also have security and verification elements in their account creation process. Being so, I would GUESS that the seller was charged for the amount that PayPal refunded you. But ultimately, I can't say for sure. -Dani
Never pay via friends and family. PayPal specifically says that is not for goods and services so if you do buy something that way, your bank can't do anything for you. It is nothing more than giving cash to a friend. Zero protection on the buyer. Pay the small fee. Don't let some seller talk you into using the friends and family to avoid any fees. By avoiding fees, you also avoid protection. (Exception would be if the person you sent money to legit never got it. But PayPal would have to figure out why)
I accidently reported a transaction as fraud. I thought it was a one time payment but the next day I was charged almost 50$, which was not mentioned when I read through the info. Would this be a dispute? And if so are there any steps I need to take?
Hello! It sounds like a dispute based on the fact that you authorized the initial payment but did not anticipate the additional charge(s). I suggest contacting the vendor first to see why they charged you more than once. When you call the credit card company, they will probably ask if you called the vendor already, so it's good to get that out of the way first. -Dani
@@FortCommunityCU thank you!
I tried to dispute a charge from Microsoft, they said they couldn’t find it because they couldn’t find my account. Should I charge that as fraud? Now my charge was denied because they said they couldn’t find it but now they can and the deadline is due for the transaction so I’ll give it another shot!
Hi! Although this advice may be a little too late, be sure to get EVERY communication in writing (for example, Microsoft saying that they couldn't find your account). That way, if you miss any important deadlines, you'll be able to show proof that you did everything you possibly could to alleviate the situation in the correct time period. -Dani
What does credit adjustment mean? I made a report cause somebody was taking money out my account and I got the money and changed my card but 3months later money is taken out from the same sus website and it’s a financial website I never heard of I’m worried cause I hope I’m not hacked or anything🙄
Will you go to jail if you dispute to much cuz I order a lot of stuff and didn’t arrive I’m scared I want to know the answer firts before doing it ty
Hello! No, you won't go to jail. :) I would suggest following up with the online retailers to see if shipping times are being affected by COVID-19. I know a lot of businesses are experiencing delays lately. The retailer may be willing to refund you, via a credit back to your account, if your merchandise has not yet shipped. This would allow you to avoid the dispute process entirely! -Dani
I worked financial services. They will cancel your card if you dispute to much. It cost the credit card company/bank to much money for all these dispute everything. There is a lot of disputes on reloadable cards. Typically people with credit so bad the bank won't even give them a debit card. And for good reason, because they try to dispute everything. You'd be surprised how often these deadbeats slip up and will unknowingly incriminate themselves through their chaotic bogus stories. It's like if I gave a child or a neanderthal a magic card and then they find out they can dispute something, so they try to dispute EVERYTHING.
hello, i found your video very much helpful but i have one question. will the bank, CC company, or whoever investigates the dispute tell me where the fraud purchase was made? i would like to press charges as whoever found a way to get my debit card info spent a fortune and left me in a tight spot and i want justice
thank you in advance ma'am
ps: this is my first time dealing with a situation like this so sorry if this question seems "stupid" but ive heard horror stories that the bank will just assist or deny the claim and regardless of the outcome, the perp gets off scott-free
Hi Sire. I'm really sorry about your situation. Your question is certainly not "stupid;" card fraud can be difficult to navigate.
In regards to your question: If the investigator (whether it's your bank or CC company) finds the violator, the information can be shared and a police report filed. However, many times, that information is not collected because the merchant information is falsified and therefore unidentifiable. -Dani
@@FortCommunityCU i agree that it may be difficult to trace the identity of fraudster but Since the money is debuted from victim’s card and transferred/paid to merchant, can’t the cc issuer or the merchant bank locate the ac no’s?
Who pays back fraud charges the merchant or the your bank ? Does the merchant still keeps the money?
The liability of a fraudulent transaction rarely falls on the cardholder, and is generally assigned to the issuer (bank/credit union) or merchant, dependent on how the transaction was conducted (card present or card not-present). -Dani
Signing up on a free trial or free shipping cannot be consider as fraud , that's dispute ☺️ as you voluntarily provide ur credit card number to the merchant ... It's just that some customer Do not read the terms and conditions bef signing up...most of their disclosure says, IF YOU DONT WANT TO CONTINUE WITH THE PRODUCT , MAKE SURE TO CANCEL IT ON OR BEFORE 15 DAYS, OTHERWISE IT WILL BE A MONTHLY RECURRING CHARGE. LOL
But that's disputable anyway, they just have to return the item ☺️
Absolutely! If the person can answer yes to the following question, then it cannot be considered fraud: "Is the transaction a result of you signing up for a 'free trial' online where you were required you to use your check card to pay for shipping only or as a payment method after the free trial ends?" -Dani
I have a question please, after notifying my bank that my credit card was used by someone without my authorisation. Do they deactivate the card or do they change the CVV of the card or card number? What do they do exactly? Hoping to get a reply from you soon. Thanks
Usually, a financial institution will close the card and reissue you a new card with a new number. In my experience, I have not heard of a financial institution only changing the CVV. -Dani
@@FortCommunityCU thanks so much for the response
I keep seeing "online bank transfer to chk" and the charges go from $7 to $20 and it's every month does anyone know what this means? I have a chase highschool checkings account
Hi Johnny! I recommend calling Chase to ask them! Many financial institutions word things differently on their bank statements and online banking, so your best information will come straight from Chase. They should be able to help you determine where and how that money is being transferred. -Dani
What about if they sold you a counterfeit product
Hi Ricardo! There are a few things you can do, depending on where you purchased the product:
(1) If it's an online retailer with individual sellers (like Amazon), first contact the seller, express your dismay, and request a refund. If that doesn't work (and if they sold you the counterfeit product on purpose, it might not work), report it to the online retailer (i.e. Amazon). If the online retailer does not assist, see option 2 below.
(2) If you purchased the item directly from the seller, contact the seller, express your dismay, and request a refund; this is the first step of a dispute. From there, follow the instructions in the video about contacting your card provider to see if they can assist further.
If you're in the U.S., stopfakes.gov has a great consumer guide. If you're not in the U.S., check to see if your government has a similar resource. -Dani
What is dda withdraw
Hi William! DDA stands for Demand Deposit Account, which is referring a checking account. Generally speaking, a "DDA withdrawal" would be a withdrawal from a checking account. -Dani
Hello, Thank you so much for your video.
I was wondering about scams.
Yesterday, I was scammed. I ordered on the website via my debit card. I can't contact or send emails to the seller because their website is a scam so their email or contact information also invalid, fake. I requested Dispute Charge from my bank but they cannot guarantee a refund. Also, I applied the dispute to Paypal. Can I get receive a refund? So hard...
Hi JJ! I'm really sorry about your situation; that stinks. From what I hear, PayPal has a pretty robust dispute process, so definitely continue to pursue that route. I hope that you're able to get your money back. -Dani
As a dispute advisor, I'd say that there's a chance that you can be refunded or credited by your bank if you claim that you didn't receive your item or your were still charged after cancelling an ordee or services. But after being refunded by bank, merchant's bank is being notified for them to validate the transaction. If merchant failed to provide compelling documents to invalidate your claim, you'll get a permanent credit if they are able to provide valid documents, you will be liable to pay for the transaction and will have to continue communicating with the merchant directly to obtain a refund.
I just found out that most of the things “I’ve purchased” weren’t even made by me. My money has been drained from my bank account and I don’t know when this happened. What can I do? I don’t even know the source of my problem.
Firstly, I am so sorry. I can't imagine what you're going through. The best first step is to contact your financial institution. They should have someone familiar with the fraud process that can guide your next steps. -Dani
What does dispute reversal mean?
Hi Ali! When a cardholder disputes a transaction they are often given a provisional credit from the debit/credit card processor. With a dispute reversal, the merchant who originally charged the card is disputing the dispute with evidence that they should not be liable to give the money bank because they processed the transaction correctly in the first place. If the merchant "wins" the dispute, that provisional credit given to the cardholder will be reversed. I hope that helps explain it! -Dani
@@FortCommunityCU what's does purchase adjustment mean..?
@@AvonnaVentura Hello! I found a good explanation on this website: www.creditcardprocessing.com/resource/glossary/a/adjustment/
"Sometimes adjustments to charges must be made after a purchase has taken place during a merchant account transaction. For example, an error may have occured when charges were made on a consumer’s debit or credit card. This mistake could have been in the form of an overpayment or an underpayment for the item sold. The bank (or acquirer) that processes the credit card payments for the merchant (or store) would prompt the adjustment action."
See the link for more details! -Dani
I accidentally reported a transaction as fraud although it was basically my fault because I was trying to use my debit card to watch Netflix and it didn't process successfully so the bank informing me if I do recognize the transaction so I accidentally send a message state that I don't recognized it, now the bank replied that my card is on hold what should I do?,😫
Hi Alexa! We suggest contacting your Financial Institution and letting them know what happened. They should be able to help you fix the situation. You can also call the customer service phone number listed on the back of your card. We hope that helps!
@@FortCommunityCU Thank you so much!
here is a unique one. lets say your friend said that he doesnt have a credit card to pay for something and asked you to cover it and will give you the cash later in the day, but doesnt. can you dispute it?
Hello! Unfortunately, it sounds like you're going to have to work out the repayment with your friend. A dispute can be filed in a situation where you knowingly purchase something from a merchant but then the item never comes, it's not as expected, never arrives, etc. (see dispute examples in video description). In this situation, the purchase was completely legitimate and the issue lies in the verbal terms of the repayment with your friend.
@@FortCommunityCU yeah I figured I’ll get f*****
:(
Hi we created a video of disputed charges from the perspective of a business owner @
I would encourage you guys to take a look before disputing a charge
Yes! I definitely agree with the sentiment of your video where you discuss the importance of reaching out to a business first. It's important from a formal dispute standpoint, and it can avoid the whole dispute process entirely if the business is willing to help (which many are!). -Dani
@@FortCommunityCU I wish the world also felt this way
Help!!
Payed my Mastercard in person with debit
And Mastercard Sayed it was reversed
Two weeks later
So by who?and where's my $1000?
Hi Terry! I would reach back out to Mastercard to get more information. -Dani
What about if u was scammed through cash app
Hi Davion! Check out this helpful article from Cash App: cash.app/help/us/en-us/309115-cash-card-dispute-purchase. Hopefully that will help you get on the right path towards resolution! -Dani
Scratch knows!
What if u got scammed and payed through zelle
Hi Alex! My best suggestion would be to contact Zelle and/or your financial institution. They should be able to point you in the right direction. -Dani
if you made a dispute , will the scammer still have the money? i hope he doesnt >:(
A dispute is a charge that you "did" authorize or initiate. It is not necessarily fraud, and therefore a dispute is handled differently than fraud. You can dispute a charge for various reasons. Maybe you never received the merchandise you ordered, or the merchandise you received was not as described. Either way, you should first contact the merchant you initiated the charge with and request a refund. However, if the merchant is non-responsive, or refuses to credit back your account you can contact your credit card company to initiate a dispute. The credit card company will then work with with merchant on your behalf to obtain the funds owed to you. We hope this explanation helps!
Don’t try so hard 😉😂😭😝
So I sent this guy $1950 and he didn’t ship my item he blocked me. What should I do
I paid his thru cash app will the bank contact him or something? Or just re fund my money
Michael Pimo contact cash app and your bank
Hi Michael. I'm sorry for the delayed response. I would suggest what Huge FX said. Contact Cash App and your bank. I hope you get the situation sorted! -Dani
They want my cc to identify me but aren’t changing anything
Hi RM. If I'm following correctly, it sounds like someone is asking for your full credit card number to verify your identity? Most legit businesses will not ask you to verify your full card number. That's a big red flag for fraud. -Dani
@@FortCommunityCU ty 🙏
I don't think there are any subscriptions that are 480 dollars
Hello! I'm a bit confused. Where are you getting $480 from? Let me know! :) -Dani
@@FortCommunityCU Oh nothing I looked in my bank account and was like, I don't think I have any subscription that was 480 dollars. (My debit card numbers were stolen.)
Ahh! That makes sense. I'm so sorry that happened to you. I hope you are able to get everything sorted out. -Dani
I've changed my debit card twice
these people know when I get paid
who want s to get a new card every month.
it's not helping!!
What happens to the other person when you report them for fraud?
Hi Ivan! It's hard to say exactly, because it really depends on the nature of the fraud and where the fraudulent transaction(s) is reported. -Dani
U r so pretty 😍 . I visited for the information but found something beautiful
From where you are. ??
Keep it simple GF. Too much chaos. Sorry but ADD annoying.
Woah i got more subs then u guys how is that possible
The TH-cam algorithm hath blessed you. :) -Dani
@@FortCommunityCU you guys deserve at least 100K I love your channel :D
@@TruzTv Aww, that's so sweet. Thank you! I really appreciate it. -Dani