The following explains unauthorized credit card charges.
What should I do if there are unauthorized charges on my account?
It is best to notify the bank in writing about unauthorized charges. Notice may be given to the bank in writing or orally. The bank should have provided you with information on how to contact it in the case of loss or theft of the card. This information may also be on your account statement. This address may be different from where you send your payment. The bank will undertake a review of your claim and notify you of the results of their investigation. It is important to notify the bank promptly upon discovering unauthorized charges. [Note that if the charge was authorized, but you are disputing the amount of the charge or other billing error, the credit card company must receive your letter within 60 days of its sending you the first statement on which you noticed the error.]What is an unauthorized charge?
"Unauthorized use" is defined as the use of a credit card by a person, other than the card holder who does not have actual, implied, or apparent authority for such use, and from which the cardholder receives no benefit.If the bank seeks to impose liability for the charge when a claim of unauthorized use is made by the cardholder, the bank must conduct a reasonable investigation of the claim.
Actions that a bank can take in reviewing a claim are:
- looking at the transaction in light of other purchases,
- reviewing if the goods were delivered to the residence or place of business,
- comparing signatures,
- requesting a police report,
- requesting documentation to assist in validating the claim,
- requesting a signed written statement from the cardholder or authorized user, and
- requesting information about the cardholder's knowledge of the person who allegedly used the card or of that person's authority to do so.
The bank will notify you of the results of their investigation.
No comments:
Post a Comment