Chargebacks For VISA Debit & Credit Cards
Prevention & Security tips - Information on Chargebacks
What is a chargeback and when could it occur?
A chargeback is a reversal of a card transaction from a point of sale (a transaction which was previously debited from a card holders’ account and credited to a merchants account).
It may result from a number of scenarios including:
How to claim a chargeback?
To avoid losing any rights to claim a refund for a disputed transaction (other than unauthorised EFT Transactions) you should:
- tell us within 30 days after the date of the statement, which shows the transaction; and
- provide us with any supporting information and any information we ask for relating to your request.
Things to keep in mind
The Bank’s ability to investigate a disputed transaction on your VISA Debit or Credit Card is restricted by the time limits imposed under the VISA Card Scheme Operation Rules*.
|While your dispute is being investigated by the Bank, the amount of the transaction in dispute will be withheld against your VISA Debit or Credit Card until the dispute is resolved. Where it can be shown that you have unreasonably delayed in reporting any disputed transaction to the Bank for which a chargeback right exists you will be liable for the loss on that transaction. Chargeback rights do not apply to BPAY payments from your Credit Card account.|
Some things you can do to reduce the risk of claiming a chargeback?
Ensure that you keep all receipts and transaction records from the merchants you have dealt with so that you can reconcile your records quickly;
- Cut up your old card when it expires;
- Do not allow anyone else to use your card and do not leave it unattended.
For further information, please refer to our Terms and Conditions or contact us on 1300 888 700
*Chargeback rights are set by the VISA Card Scheme and only apply where the “credit” option is used when a transaction is made at an EFTPOS terminal. This is a dispute resolution process set by the VISA Card Scheme.