How do you reverse a credit card transaction?

Mistakes on your credit card statement can happen. It may be a transaction you don’t recognize, a direct payment after you’ve cancelled it or an instance where the merchant has double charged you. Whatever the case, you should always immediately bring any inconsistencies in your statement to the bank’s attention, where you’ll be given the opportunity to dispute and reverse incorrect charges. This is especially urgent if you suspect your card has been stolen or breached, since you’d want the account instantly frozen to prevent more fraudulent transactions.

How do I lodge a dispute?

The process for lodging a dispute will vary between banks, however you can usually lodge a dispute in one (or more) of three ways:

• Online via your banking website
• Calling your bank
• Visiting your bank in person

According to their websites, you can lodge a dispute with the biggest banks in Canada in the following ways:

What transactions can I dispute?

It is your right as a consumer and account holder to dispute a variety of credit card errors that include:

• Unauthorized transactions. Any transactions that were not made or authorized by you or an additional cardholder.
• Fraudulent transactions. A transaction that you believe was made fraudulently.
• Inconsistencies. Items on your statement that do not match the item amounts on your receipts.
• Mistakes. Transactions that were mistakenly charged to your account more than once.
• Refunds. Refunds or credits that have not been processed, or that were wrongly processed as debits.
• Cancellations. Charges for a reservation you made but cancelled within the cancellation period.
• Cancelled auto-payments. A cancelled automatic payment that is still being deducted.
• Faulty or defective goods. Goods that you paid for but have not received, have been delivered but are not as they were described to be or that arrived to you faulty or defective.
• Unfulfilled services. Services that have not been rendered.
• ATM errors. An ATM withdrawal that dispensed the incorrect amount of money.

What should I check before I dispute a transaction?

Ensure that the charge in question is indeed an error by doing the following:

• Check all your receipts and transaction records for the period in question, paying close attention to items from the same retailer or financial institution. Try reconciling total amounts over the period, keeping in mind that some transactions may not be processed on the same day.
• See if you can relate the purchase to something else you bought in the same period, given that some merchants may have different billing names.
• If you have an additional cardholder, check to make sure the purchase wasn’t theirs.
• If it is the amount that does not match, check if an exchange rate, international transaction fee or other surcharge was applied by the merchant.
• If the transaction was for an automatic payment or direct debit that you believe has been cancelled, contact the retailer for clarification. Some contracts specify cut-off dates for cancelling regular payments, which makes the charge legitimate if your notice of cancellation was given after that date.

What happens after my dispute is lodged?

You will receive confirmation from the bank once they have received your request for a dispute resolution. At this point, it may be necessary for you to sign a form authorizing their investigation which you will need to return to the bank in a specified time frame. They will also likely ask that you send them certain documentation in order for them to properly investigate the dispute. If you fail to provide them with all necessary information, your dispute will likely be unsuccessful.

Once you have lodged your credit card dispute with your bank, it usually goes through three stages:

What’s the difference between a chargeback and a disputed transaction?

There is a distinct difference between a chargeback to your account and a transaction that needs to be disputed by the bank:

• Chargeback
  • A chargeback refers to purchases made using a debit directly from your bank account. If such an error is made, you should first try and resolve it yourself directly with the retailer. If not, your bank will dispute the claim with the retailer’s bank but only if you ask within 30 days of the transaction. Make sure that you are prepared to provide the bank with all of the information you have about the transaction and be aware that you might be charged a fee for this service.
• Disputed transaction
  • This term is used for credit purchases where a charge appears on your statement that you believe was made in error, is in the wrong amount or is for goods that you ordered but were unable to use.

What should I be wary of?

In order to protect yourself when using a credit card, you should follow certain steps including:

• Shopping online. When shopping online, only make purchases with established merchants that have been in business for an extended period of time. Websites can be set up from anywhere in the world, making it difficult to track down an individual who makes a charge to your account for goods, and then closes the site. In this case, you may have to pursue a chargeback instead of reversing the credit card transaction.
• Print your online receipts. When completing a check-out online, make sure that you print or email yourself a copy of the receipt. This will help you to lodge a dispute if the goods are never received.
• Save credit card receipts. When using your credit card in a store, you should always check the receipt before signing it. Also, save all receipts until the next billing cycle to ensure that it’s accurate.
• Sign your credit card. If a merchant has a signed receipt from your account, it will have to match the signature shown on the back of your credit card.
• Contact the bank ASAP. Do not wait if you notice a charge on your credit card that should not be there. The bank is only an intermediary between you and the credit card companies, which all have different criteria and time frames that have to be met for resolving disputes.

Compare credit cards that can help to protect you

• Compare credit cards with purchase protection
• Compare credit cards with fraud protection

While it varies between credit cards, purchase protection usually offers insurance for up to 90 days when products bought with your card are lost, stolen or accidentally damaged.

Sort by:

Name	Product	Purchase Protection Cover	Maximum Limit per Claim	Annual Fee		Reward
Tangerine Money-Back Credit Card		90 days	The lesser of the repair cost or the purchase price of the insured item	$0	Apply now More Info	Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
Tangerine World Mastercard		90 days	The lesser of the repair cost or the purchase price of the insured item	$0	Apply now More Info	Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
Neo Financial Mastercard			The lesser of the repair cost or the purchase price of the insured item	$0	Apply now More Info		Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 0.5% cashback guaranteed.	Compare	loading Fetching your data...
American Express Cobalt Card		90 days	$1,000	$155.88	Apply now More Info	Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery, 3x the points on eligible streaming subscriptions in Canada, 2x points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases, and earn 1 point for every $1 in Card purchases everywhere else.	Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points). That’s up to $300 towards a weekend getaway or concert tickets.	Compare	loading Fetching your data...
BMO Preferred Rate Mastercard		90 days	The lesser of the repair cost or the purchase price of the insured item	$0 annual fee for the first year ($29 thereafter)	Apply now More Info	Take advantage of an introductory balance transfer offer, annual fee waiver in the first year, and low purchase and cash advance interest rates.	Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.	Compare	loading Fetching your data...
American Express Green Card			The lesser of the repair cost or the purchase price of the insured item	$0	Apply now More Info	Earn 1 American Express Membership Point for every $1 you spend on purchases. Charge an eligible purchase to your card and redeem your Membership Rewards points for a statement credit (All eligible purchases: 1,000 points = $10 statement credit).	Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.	Compare	loading Fetching your data...
BMO Ascend World Elite Mastercard		90 days	The lesser of the repair cost or the purchase price of the insured item	$0 annual fee for the first year ($150 thereafter)	Apply now More Info	Get 3 BMO Rewards points per $1 spent on eligible travel, dining and entertainment purchases (up to $50,000 spend annually), and 2 points per $1 spent on all other eligible purchases (and once you reach the $50,000 annual spend).	Get up to 60,000 points and get the $150 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO Rewards Mastercard		90 days	The lesser of the repair cost or the purchase price of the insured item	$0	Apply now	Get 1 BMO Reward point for every $1 spent on eligible purchases, and get 2 BMO Rewards points for every $1 spent at participating National Car Rental and Alamo Rent A Car locations.	Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Compare	loading Fetching your data...
BMO eclipse Visa Infinite Privilege			The lesser of the repair cost or the purchase price of the insured item	$499	Apply now More Info	Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, drugstore purchases, gas and travel.	Get up to 90,000 welcome points in your first year.	Compare	loading Fetching your data...
SimplyCash Card from American Express		90 days	$1,000	$0	Apply now More Info	Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and earn 1.25% cash back elsewhere.	In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.	Compare	loading Fetching your data...
Scotiabank Passport Visa Infinite Card		90 days	The lesser of the repair cost or the purchase price of the insured item	$0 annual fee for the first year ($150 thereafter)	Apply now More Info	Earn Earn 3 Scene+ points on every $1 you spend at Sobeys, Safeway, FreshCo, Foodland and more, 2 Scene+ points points for every $1 spent on eligible grocery store, dining, entertainment and daily transit purchases, and earn 1 Scene+ point for every $1 spent elsewhere.	Earn up to 35,000 bonus Scene+ points and get the first year annual fee waived (that’s up to $1,100 in value in the first 12 months). Apply by October 31, 2023.	Compare	loading Fetching your data...
Scotiabank Gold American Express Card		90 days	The lesser of the repair cost or the purchase price of the insured item	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Earn 6 Scene+ points on every $1 you spend in Canada at Sobeys, Safeway, FreshCo, Foodland and more, 5 Scene+ points per $1 spent on eligible grocery, dining and entertainment purchases, 3 Scene+ points per $1 spent on eligible gas, transportation and select streaming services, and 1 Scene+ point per $1 spent on eligible purchases elsewhere.	Earn up to 40,000 bonus Scene+ points in your first year (that's up to $650 towards travel) and get the first year annual fee waived. Apply by October 31, 2023.	Compare	loading Fetching your data...
Scotia Momentum Visa Infinite Card		90 days	The lesser of the repair cost or the purchase price of the insured item	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Earn 4% cash back for every $1 spent on eligible grocery purchases & recurring bill payments, 2% per $1 spent on eligible gas purchases & public transit, and 1% per $1 spent on all other eligible purchases.	Earn 10% cash back on all purchases for the first 3 months. Plus, pay no annual fee in the first year. Apply by June 30, 2023.	Compare	loading Fetching your data...
American Express Aeroplan Card		90 days	The lesser of the repair cost or the purchase price of the insured item	$120	Apply now More Info	Earn 2x the points on eligible purchases made directly with Air Canada and Air Canada vacations, 1.5x points on eligible dining and food delivery purchases in Canada, and 1x points on everything else.	Earn up to 50,000 welcome bonus Aeroplan points. That's a value of up to $1,100 in your first year.	Compare	loading Fetching your data...
SimplyCash Preferred Card from American Express		90 days	$1,000	$119.88	Apply now More Info	Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually), and 2% cash back on all other purchases.	In your first 10 months, earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases. This could add up to $400 in statement credits in the first 10 months.	Compare	loading Fetching your data...
BMO eclipse Visa Infinite			The lesser of the repair cost or the purchase price of the insured item	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Earn 5x the BMO Points for every $1 spent on groceries, dining in and out, gas and transit.	Get up to 60,000 points, a $50 lifestyle credit and the $120 annual fee waived in the first year.	Compare	loading Fetching your data...
American Express Business Edge Card		90 days	$1,000	$99	Apply now More Info	Earn 3 Membership Rewards points for every $1 spent on eligible business essentials including office supplies, electronics, rides, gas, eats and drinks (up to an annual earn of 75,000 Membership Rewards), and earn 1 Membership Reward point for every $1 spent on all other eligible purchases	Earn up to 67,000 Membership Rewards points in your first year. That’s $670 in statement credits you can reinvest into your business.	Compare	loading Fetching your data...
Marriott Bonvoy American Express Card		90 days	$1,000	$120	Apply now More Info	Earn 5 points per $1 spent at hotels participating in Marriott Bonvoy, and 2 points per $1 spent elsewhere.	Earn up to 75,000 Welcome Bonus points. Offer ends July 24, 2023.	Compare	loading Fetching your data...
The Platinum Card from American Express		120 days	$1,000	$699	Apply now More Info	Earn 3 points for every $1 spent on eligible dining and food delivery in Canada, 2 points for every $1 spent on eligible travel, and 1 point for every $1 spent elsewhere.	Earn up to 80,000 Membership Rewards points - that’s up to $800 towards a weekend away.	Compare	loading Fetching your data...
BMO U.S. Dollar Mastercard		90 days	The lesser of the repair cost or the purchase price of the insured item	$35 USD	Apply now More Info	Receive an annual fee rebate with a minimum yearly spend of US$1,000. Plus, spend in US Dollars with no exchange rate surprises.	When your purchases total US$1,000 or more in a year, the next year's annual fee (US$35) is rebated to your card.	Compare	loading Fetching your data...

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Fraud protection guards against unauthorized purchases on your account. By law, you can be responsible for no more than $50 if your credit card is stolen and used without your consent – however, you often won’t be liable for any fraud activity thanks to the security features and policies adopted by most major credit card issuers.

Sort by:

Name	Product	Welcome Offer	Rewards	Purchase Interest Rate	Annual Fee		Min. Credit Score	Description
BMO CashBack Mastercard BMO CashBack Mastercard		5% cash back	Up to 3% cash back	20.99%	$0	Apply now More Info	Min. recommended credit score: 660	Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Compare	loading Fetching your data...
OFFER Tangerine World Mastercard Tangerine World Mastercard	OFFER	10% cash back	Up to 2% cash back	19.95%	$0	Apply now More Info	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
OFFER Tangerine Money-Back Credit Card Tangerine Money-Back Credit Card	OFFER	10% cash back	Up to 2% cash back	19.95%	$0	Apply now More Info	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
Neo Financial Mastercard Neo Financial Mastercard		Get $25.00 + up to 15% cash back	Average 5% cash back	19.99% - 26.99%	$0	Apply now More Info	Min. recommended credit score: 600	Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 0.5% cashback guaranteed.	Compare	loading Fetching your data...
American Express Cobalt Card American Express Cobalt Card		30,000 points	Up to 5x points per $1 spent	20.99%	$155.88	Apply now More Info	Min. recommended credit score: 700	Earn up to 30,000 Membership Rewards points in your first year. Earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your card (up to 30,000 points). That’s up to $300 towards a weekend getaway or concert tickets.	Compare	loading Fetching your data...
BMO Preferred Rate Mastercard BMO Preferred Rate Mastercard		0.99% rate on balance transfers for 9 months	N/A	13.99%	$0 annual fee for the first year ($29 thereafter)	Apply now More Info	Min. recommended credit score: 660	Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.	Compare	loading Fetching your data...
American Express Green Card American Express Green Card		10,000 points	1 point per $1 spent	20.99%	$0	Apply now More Info	Min. recommended credit score: 700	Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.	Compare	loading Fetching your data...
BMO Ascend World Elite Mastercard BMO Ascend World Elite Mastercard		60,000 points	Up to 5x points per $1 spent	20.99%	$0 annual fee for the first year ($150 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 60,000 points and get the $150 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO Rewards Mastercard BMO Rewards Mastercard		10,000 points	Up to 1 points per $1 spent	20.99%	$0	Apply now	Min. recommended credit score: 725	Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Compare	loading Fetching your data...
BMO eclipse Visa Infinite Privilege BMO eclipse Visa Infinite Privilege		90,000 points	5 points per $1 spent	20.99%	$499	Apply now More Info	Min. recommended credit score: 760	Get up to 90,000 welcome points in your first year.	Compare	loading Fetching your data...
SimplyCash Card from American Express SimplyCash Card from American Express		$100 in statement credits	Up to 2% cash back	20.99%	$0	Apply now More Info	Min. recommended credit score: 700	In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.	Compare	loading Fetching your data...
Scotiabank Gold American Express Card Scotiabank Gold American Express Card		40,000 points	Up to 6 points per $1 spent	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 700	Earn up to 40,000 bonus Scene+ points in your first year (that's up to $650 towards travel) and get the first year annual fee waived. Apply by October 31, 2023.	Compare	loading Fetching your data...
Scotiabank Value Visa Card Scotiabank Value Visa Card		0% on cash advances for 6 months	N/A	12.99%	$0 annual fee for the first year ($29 thereafter)	Apply now More Info	Min. recommended credit score: 660	Get a 0% introductory interest rate on cash advances for the first 6 months. Plus, pay no annual fee in the first year. Apply by October 31, 2023.	Compare	loading Fetching your data...
Scotia Momentum Visa Infinite Card Scotia Momentum Visa Infinite Card		10% cash back	Up to 4% cash back	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 750	Earn 10% cash back on all purchases for the first 3 months. Plus, pay no annual fee in the first year. Apply by June 30, 2023.	Compare	loading Fetching your data...
American Express Aeroplan Card American Express Aeroplan Card		50,000 points	Up to 2x points	N/A	$120	Apply now More Info	Min. recommended credit score: 700	Earn up to 50,000 welcome bonus Aeroplan points. That's a value of up to $1,100 in your first year.	Compare	loading Fetching your data...
SimplyCash Preferred Card from American Express SimplyCash Preferred Card from American Express		$400 in statement credits	Up to 4% cash back	20.99%	$119.88	Apply now More Info	Min. recommended credit score: 700	In your first 10 months, earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases. This could add up to $400 in statement credits in the first 10 months.	Compare	loading Fetching your data...
BMO Cashback Business Mastercard BMO Cashback Business Mastercard		10% cash back	Up to 1.75% cash back	19.99%	$0	Apply now More Info	Min. recommended credit score: 650	Get 10% cash back on gas, office supplies, cell phone bills and internet bills for 3 months. Plus, get a 0.00% introductory interest rate on balance transfers for 9 months with a 3% transfer fee. Valid until November 30, 2023.	Compare	loading Fetching your data...
BMO CashBack World Elite Mastercard BMO CashBack World Elite Mastercard		Up to 10% cash back	1% cash back	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO eclipse Visa Infinite BMO eclipse Visa Infinite		60,000 points	Up to 5 points per $1 spent	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 60,000 points, a $50 lifestyle credit and the $120 annual fee waived in the first year.	Compare	loading Fetching your data...
American Express Business Edge Card American Express Business Edge Card		67,000 points	Up to 10 points per $1 spent	20.99%	$99	Apply now More Info	Min. recommended credit score: 700	Earn up to 67,000 Membership Rewards points in your first year. That’s $670 in statement credits you can reinvest into your business.	Compare	loading Fetching your data...

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Frequently asked questions

• Will I be obligated to pay interest on a disputed item?

  No, the bank will not apply interest to items on your statement that are under dispute.

• Are there fees for disputes and chargebacks?

  Resolving a dispute will be free of charge, however depending on the provider, a chargeback may incur a fee. Read your credit card terms and conditions to find out how much your provider will charge for this service.

• How long does it take to resolve a dispute?

  It will depend on the bank and the circumstances, but the bank should be keeping you informed of their progress during the process. It will usually take around one month, sometimes longer, for the charge to be removed from your account.

• When should I lodge the dispute?

  After checking over your own records to make sure that there is indeed an error, you should lodge the dispute immediately. This should be no more than 30 days after the date of the statement on which the error appears

• Should I still make payments towards my credit card while a dispute is under investigation?

  Yes, you should continue with your payments as normal in order to avoid late fees or added interest on your balance.

• What do I do if the dispute is not resolved in my favour?

  Documentation from the merchant will be presented to your bank and then forwarded to you if they feel your dispute has no merit. You can either accept this and pay the charge, or opt to continue to dispute the transaction by providing evidence which negates theirs.