How do you reverse a disputed transaction?

How to Reverse a Disputed Transaction

Disputing a transaction can be a frustrating experience, but it’s important to remember that you have recourse if you believe a transaction is fraudulent or incorrect. The first step is to contact the merchant directly.

Verify the Transaction Status

Before contacting the merchant, it’s important to verify the current status of the transaction within your Wise account. This can often clarify the situation and may eliminate the need for further action. To access your transaction history, follow these steps:

• Log into your Wise account.
• Click on “History” in the side menu.
• Select the “Transactions” tab.

Contacting the Merchant

Once you have verified the transaction status, the next step is to contact the merchant directly. Provide them with the following information:

• The date and amount of the transaction.
• The merchant’s name and contact details.
• A clear explanation of why you are disputing the transaction.

Provide Supporting Documentation

If possible, provide supporting documentation to back up your claim. This could include a receipt, email confirmation, or bank statement.

Be Patient and Persistent

It may take some time to resolve a disputed transaction. Be patient and persistent in communicating with the merchant. If you are unable to reach a resolution, you may need to contact your bank or credit card company for assistance.

Additional Tips

• Keep a record of all communication with the merchant, including emails and phone calls.
• If the transaction is fraudulent, report it to the appropriate authorities.
• If you are unable to resolve the dispute, you may consider filing a complaint with the Consumer Financial Protection Bureau (CFPB).