If you find incorrect transactions on your monthly statement, you should take the following steps:
- Review Your Statement Thoroughly
Carefully check each transaction on your statement, verifying the date, amount, and merchant to identify any discrepancies, unauthorized charges, duplicates, or incorrect amounts
- Gather Supporting Documentation
Collect all related receipts, email confirmations, travel orders, or any proof that supports your claim about the incorrect transaction
- Contact the Merchant First
Reach out to the merchant involved to discuss the discrepancy. Provide evidence like receipts and politely request a correction. Keep records of all communications including dates and summaries
- Notify Your Bank or Card Issuer Promptly
If the merchant cannot resolve the issue, contact your bank or credit card company as soon as possible-ideally within 60 days of receiving the statement with the error. Report the incorrect transaction and follow their dispute process
- File a Formal Dispute
Submit a dispute according to your card issuer’s instructions, which may involve filling out a form or sending a written letter. Include your name, account number, details of the disputed charge, and reasons why it is incorrect. Sending the dispute via certified mail is recommended to have proof of receipt
- Monitor Your Account and Follow Up
Continue to review your statements regularly to catch any further errors. Keep copies of all correspondence and documentation related to the dispute. Your issuer must respond within a specified timeframe, usually 30 days, and resolve the dispute within 90 days
- Protect Yourself Against Fraud
If you suspect unauthorized transactions, report them immediately to prevent further unauthorized use. Your bank may have protections under ePayments codes or similar regulations to help recover lost funds
By following these steps, you can effectively address incorrect transactions on your monthly statement and protect your financial interests
