What is a card dispute?
A card dispute arises when you identify unusual or unauthorized transactions on your statement or when you encounter a problem with a purchase and decide to address the situation. This process allows you to question and resolve charges you are dissatisfied with on your account.
How do disputes work?
After reporting to Comun the transactions you are dissatisfied with, Comun will initiate a dispute process on your behalf.
The dispute process is an organized series of steps designed to address and resolve questionable transactions on your statements. After informing Comun about the unauthorized charges, the investigation phase begins.
During the investigation, Comun gathers relevant information about the disputed transaction. This may include details such as the date, time, location, and any additional documentation provided by you. This information is sent to Visa, who acts as a neutral arbiter in the process.
Read this article to learn more about the dispute process.
What is a provisional credit (temporary refund)?
Provisional credit is a key component in card disputes. During the Visa investigation, you are likely to receive a provisional credit, which is a temporary amount returned to your account.
However, keep in mind that this credit may be reversed if it is determined that the disputed charge was legitimate and there was no issue with your transaction. It is important to have a sufficient balance in your Comun account if we need to reverse the temporary refund. Otherwise, you may end up with a negative balance in your account, which is not allowed by law and could have consequences such as the closure of your account or legal actions.
Why was my provisional credit (temporary refund) taken away?
The provisional credit that Comun provides while your dispute is under investigation by Visa can be reversed if it is determined that the disputed charge was legitimate and there was no issue with your transaction.
It is important to have a sufficient balance in your Comun account if we need to reverse the temporary refund. Otherwise, you may end up with a negative balance in your account, which is not allowed by law and could have consequences beyond, such as the closure of your account or legal actions.
How long does the dispute process take?
Dispute resolution can take up to 90 days, as it involves a thorough review of the provided documentation and an assessment of the legitimacy of the transactions. This timeframe is determined by Visa, who needs time to conduct a detailed investigation. Patience is essential during this period, and it is recommended to maintain constant communication with your bank to get updates on the progress.
The provisional credit (temporary refund) is granted within the first 30 days if Comun can prove that there was an error with your transaction and that the investigation should continue by Visa.
After the 90-day period is when the provisional credit could be reversed, depending on what Visa found in its investigation.
The investigation process is as follows:
Information Collection: Comun collects detailed data about the disputed transaction, including any evidence supporting your claim.
Presentation to Visa: The collected information is presented to Visa, who initiates its own investigation. Visa contacts the merchant and obtains their version of the facts.
Detailed Analysis: Visa conducts a detailed analysis of the information provided by both parties, considering the validity of the transaction and whether it complies with established standards and regulations. This may take up to 90 days.
Who decides if the merchant or the customer is right?
The final decision on who "wins" the dispute rests with Visa, not Comun. They base their verdict on the evidence collected during the investigation. If it is determined that the transaction was legitimate or that there was no issue, the provisional credit (refund) may be reversed, and you will be responsible for that charge. On the other hand, if the evidence supports your claim, the charge may be voided, and the provisional credit will remain in the account.
It is important to note that this process is designed to be fair and equitable, and transparency in presenting evidence and cooperation with the bank are key to a successful resolution. Visa acts as an impartial arbiter to ensure a fair resolution of disputes between you and merchants.
What does Comun recommend for this process?
It is important to explain in detail why you consider certain transactions unjustified and provide additional evidence supporting your claim, such as receipts, photos of damaged products, or proof that you tried to resolve the issue directly with the merchant.
Additionally, it is advisable to regularly review your statement to identify any suspicious activity and address it immediately. Cooperation and understanding of the entire process will facilitate an effective resolution.