How to Reverse an Unauthorized Transaction: Step-by-Step Guide
Learn how to quickly reverse unauthorized transactions and protect your finances.
450 views
To reverse an unauthorized transaction, immediately contact your bank or financial institution to report the issue. Provide them with relevant transaction details. Most institutions will initiate an investigation and may issue a temporary credit. Follow up with any requested documentation to support your claim.
FAQs & Answers
- What should I do if my bank refuses to reverse an unauthorized transaction? If your bank declines your request, you can escalate the issue by contacting their customer service department or filing a complaint with a financial regulatory authority.
- How long does it take to reverse an unauthorized transaction? The process can vary, but most banks aim to resolve unauthorized transaction disputes within 10-45 days, depending on the investigation's complexity.
- Can I protect myself from unauthorized transactions? Yes, you can use secure payment methods, regularly monitor your account statements, and enable transaction alerts to detect any suspicious activities early.