The use of debit and credit cards has eliminated the need to carry cash around. It has made transactions easy, fast, and convenient. With your card and your mobile device, you could make purchases or a cash transfer to anyone around the globe. While the introduction of debit and credit cards remains a welcome development, it has its fair share of issues. Sometimes, you get billed twice when making a transaction with your debit card. What do you do if you experience this?
If you are charged twice on a debit card, reach out to the merchant responsible for the double charge and explain what happened. If the merchant is unable to solve the problem, contact your bank.
Being charged double on a debit card is one of those things that unsettle card users. It can be quite frustrating and scary, especially when you aren’t sure of what happens or how to tackle the situation. You see, such occurrences happen. Yes, I wouldn’t really say they are normal; I’ll say they happen frequently instead. And I’ll also advise that you don’t panic when this happens. If you stay calm and adhere to the tips I’ll be sharing with you in this article, you’ll be alright eventually.
What to Do When Your Debit Card Is Charged Twice?
Debit cards work like money. They have successfully replaced checks and are used many times each day. The introduction of debit cards has made spending and withdrawing quite easy. You could purchase a product with a debit card by simply swiping your card and inputting your pin. It is that easy! If you wish to withdraw, it’s the same process. While the advent of debit cards has been a blessing to humanity, there are several things that may make you think otherwise.
Being billed twice for a transaction is one thing no one wants to experience. For instance, you purchased products worth $500 and made payment at the counter using your debit card. Back home, you decided to review your bank statement, and you discovered that you were charged $1000 for a transaction that is worth $500. You were billed two times on your debit card! Well, I can, to some extent, predict that you’ll be confused and frustrated; it’s quite normal for anyone experiences such.
So, when this happens, what do you do? Do you go to the store where you purchased the item and lash out at them? Do you call the police and report the case? Or do you sue the merchant? Well, none of the above! What you need to do is very simple. As a financial expert, I can confidently tell you that the best solution in this scenario is to contact the merchant. In the case of the example given, contact the merchant where you bought the product from and ensure that you have proof of the purchase should they ask for it.
If peradventure, the merchant isn’t cooperative, or if the merchant is also as confused as you are, the next step to take is to contact your bank. Your bank should be able to check it out and give you feedback. If all things work fine, you’ll be refunded and probably get an apology from the merchant. Always ensure you report cases like this immediately you notice it.
Below Are Some Helpful Tips to Follow When Making Payments With Your Credit or Debit Card:
Take Note of Your Transactions:
When shopping with a debit card, it’s always difficult to note how much you spend. Unlike a credit card, the money used to pay for a transaction is usually withdrawn from your bank account. So, it is very crucial that you find a way to record your transactions. You can do this by using a paper ledger or an online checking account program. If you don’t keep track of your transactions, how will you know when your debit card is billed twice and how would you know which merchant is responsible?
Always Monitor Your Account Statement:
You can check your account statement in several ways. Some people prefer using their online banking app to check theirs, while some prefer calling the bank customer service to get theirs. Whichever method you adopt, always ensure you check it often. And if while checking your statement you discovered that your debit card was charged double for the same amount on the same date, that should make you curious.
The next thing to do after the discovery is to locate the original receipt of the transaction. If what you purchased that day was a T.V. set, try and find the receipt for the T.V. set and keep it as it will be helpful. The next step is to contact the merchant and request to speak to the manager or the person in charge. If it was an online transaction, maybe from one of those online retail stores, contact their customer care and ask to speak to the supervisor.
Explain What Happened:
When talking to the manager or the customer service representative, explain that you were billed double for a transaction and ask for a refund of the duplicate charge. Pulling up the sales record for your transaction shouldn’t be difficult (unless the merchant lives under a rock). By reviewing the transaction records, the representative should see that your card was indeed charged double. If everything goes on fine, you should get a refund within three to five business days.
Be Watchful:
Always check your account to see if the duplicate charge has been refunded. If you notice that the refund hasn’t shown up even after three to five days, contact a representative at your bank. The representative should be able to review the mistake from their end. You may have to visit a branch to fill out a disputed charge form.
Always ensure that you take prompt action after discovering the duplicate charge. Contact your debit card company and inform them that you have been charged double on a product you bought once. Doing this will alert the company and enable them to quickly look into your case, thus limiting your liability for the extra unauthorized charge.
