How to Dispute a Debit Charge
Identify the charge., Call your bank quickly., Cancel your card.
Step-by-Step Guide
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Step 1: Identify the charge.
Look at your ATM statement or debit card receipts.
See if you can identify each withdrawal or purchase billed to your debit card.If you see a purchase or ATM withdrawal that you did not authorize, then write down the date and amount.
If the debit purchase was made at a store, then note the name of the merchant.
You should enroll in your bank’s online banking system.If you do, then you can monitor debit charges without having to wait for a monthly bank statement. -
Step 2: Call your bank quickly.
Federal law gives you only 60 days from the date you received the statement to notify the bank and report the error.
You should call first, as this is the fastest way to bring the error to the bank’s attention.Find the phone number on the back of the debit card.
If your card was stolen, then find the phone number on the web or on one of your prior bank statements.
If you wait too long to dispute the charge, then the bank has no obligation to respond.Also, your liability will increase if you lost your card.
For example, if you report a lost or stolen debit card before any purchases are made, then you are not responsible for any subsequent purchases on the card.
However, if you wait longer, then you are responsible for more:
If you report within two business days, then you are responsible for a maximum of $50.
If you wait more than two business days to report, then you are responsible for up to $500 in unauthorized charges.
If you wait more than 60 days after receiving your bank statement, you are responsible for all unauthorized charges. , When calling the bank to report the unauthorized charge, you should also cancel your debit card.
By doing so, the card will be declined if the thief continues to try and use it.
Ask the bank to issue you a new card, and make sure that you use a different PIN for the new card. -
Step 3: Cancel your card.
Detailed Guide
Look at your ATM statement or debit card receipts.
See if you can identify each withdrawal or purchase billed to your debit card.If you see a purchase or ATM withdrawal that you did not authorize, then write down the date and amount.
If the debit purchase was made at a store, then note the name of the merchant.
You should enroll in your bank’s online banking system.If you do, then you can monitor debit charges without having to wait for a monthly bank statement.
Federal law gives you only 60 days from the date you received the statement to notify the bank and report the error.
You should call first, as this is the fastest way to bring the error to the bank’s attention.Find the phone number on the back of the debit card.
If your card was stolen, then find the phone number on the web or on one of your prior bank statements.
If you wait too long to dispute the charge, then the bank has no obligation to respond.Also, your liability will increase if you lost your card.
For example, if you report a lost or stolen debit card before any purchases are made, then you are not responsible for any subsequent purchases on the card.
However, if you wait longer, then you are responsible for more:
If you report within two business days, then you are responsible for a maximum of $50.
If you wait more than two business days to report, then you are responsible for up to $500 in unauthorized charges.
If you wait more than 60 days after receiving your bank statement, you are responsible for all unauthorized charges. , When calling the bank to report the unauthorized charge, you should also cancel your debit card.
By doing so, the card will be declined if the thief continues to try and use it.
Ask the bank to issue you a new card, and make sure that you use a different PIN for the new card.
About the Author
Diana Cox
Specializes in breaking down complex home improvement topics into simple steps.
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