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How do you reverse a credit card transaction?

Do you need an incorrect credit card charge reversed? Learn how to dispute transactions with your bank.

Mistakes on your credit card statement are forgivable, as long as they are rectified. It may be a transaction you don’t recognise, a direct payment after you’ve cancelled it or an instance where the merchant’s charged you twice. 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 so you can instantly freeze your account to prevent more fraudulent transactions.

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What you’ll find in this guide

How do I lodge a dispute?

The process for lodging a dispute will vary by bank. Some will let you provide the necessary information online, while you may need to call others.

BankContact informationAvailability
DBSIn Singapore: 1800 111 1111
From overseas: (65) 6327 2265
24 hours, 7 days a week
POSBIn Singapore: 1800 339 6963
From overseas: (65)6339 6963
24 hours, 7 days a week
OCBCIn Singapore: 1800 363 3333
From overseas: (65) 6363 3333
24 hours, 7 days a week
UOBIn Singapore: 1800 222 2121
From overseas: (65) 6222 2121
24 hours, 7 days a week
HSBCIn Singapore: 1800 4722 669
From overseas: (65) 6472 2669
24 hours, 7 days a week
Citibank(65) 6225 522524 hours, 7 days a week
Standard CharteredIn Singapore: 1800 747 7000
From overseas: (65) 6747 7000
24 hours, 7 days a week
MaybankIn Singapore: 1800 629 2265
From overseas: (65) 6533 5229
24 hours, 7 days a week
Bank of ChinaIn Singapore: 1800 338 5335
From overseas: (65) 6338 5335
24 hours, 7 days a week
American Express1800 299 1997 24 hours, 7 days a week

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:

  • Unauthorised transactions. Any transactions that were not made or authorised 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 receipt.
  • 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 faulty or defective.
  • Unfulfilled services. Services that have not been rendered.
  • ATM errors. An ATM withdrawal that dispensed the incorrect amount of money or transactions that have been executed under duress or threat.
  • Instalment Payment Plans. IPP transactions with merchants that have ceased to operate.

What should I check before I dispute a transaction?

Firstly, please ensure that the charge in question is indeed an error by following these steps:

  1. 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, bearing in mind that some transactions may not be processed on the same day.
  2. 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 to their trading names. If you have an additional cardholder, check to make sure the purchase wasn’t theirs.
  3. 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.
  4. 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.

If you are still unable to resolve the issue after doing all of the above, contact your bank immediately to initiate an investigation.

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 such as a dispute resolution form authorising 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 the necessary information your dispute will likely not be successful.
Once you have lodged your credit card dispute with your bank, you can expect the resolution to take place in 4 to 12 weeks, depending on the bank and the dispute. Disputes generally go through these three stages:

1. Dispute item raised2. Dispute resolution credit3. Dispute item resolved
The transaction in question is being reviewed.Your account is credited with the correct amount of money.The bank is no longer reviewing the transaction.

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?

Dispute resolution mechanism is available for genuine customer complaints by most banks. However, you should follow certain steps when using your credit card to protect yourself and your credit rating:

  • 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 in lodging 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 is 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 to 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.

Frequently asked questions

Compare credit cards for November 2022

HSBC Revolution Credit Card

HSBC Revolution Credit Card

Receive a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback cashback when you apply for a new credit card and get up to $150 cashback when you apply for supplementary cards.

Offer ends 31 Dec 2022

Eligibility criteria, terms and conditions, fees and charges apply.

HSBC Revolution Credit Card

  • Principal Annual Fee: $0 annual fee for entire membership - $0 thereafter.
  • Cashback Rate: 0%
  • Annual Interest Rate:
  • Minimum Income (Singaporean & PR): $30,000
  • Minimum Income (Non-Singaporean): $40,000
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Promoted
Name Product Reward Cashback Offer Annual Fee Min Income - Singaporean and PR
HSBC Revolution Credit Card
Earn up to 10X Reward points or 4 miles per $1 spent on qualifying purchases.
Receive up to $200 cashback. T&Cs apply. Ends 31 Dec 2022.
$0 annual fee
$30,000
New cardholders can choose from a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback upon $500 minimum spend. Plus, receive up to $150 cashback when you apply for supplementary cards. Existing HSBC credit cardholders are eligible to receive $50 cashback. T&Cs apply. Ends 31 Dec 2022.
American Express Singapore Airlines KrisFlyer Ascend Credit Card
For every $1 spent, earn 1.2 KrisFlyer miles on local purchases, 2 KrisFlyer miles on overseas spend in June and December, Singapore Airlines and KrisShop and 3.2 KrisFlyer miles on Grab.
N/A
$337.05 annual fee
$50,000
Get 10,000 KrisFlyer miles upon annual fee payment and first transaction within 30 days from card approval. An additional 15,000 KrisFlyer miles when you spend $3,000 within the first 3 months of card approval. Valid until 31 Jan 2023. Also, earn 3,600 KrisFlyer miles based on the $3,000 spend above (based on 1.2 KrisFlyer miles per $1 spent locally). T&Cs apply.
Citi Prestige Card
Deals and discounts in more than 90 countries. Also, get six complimentary golf games across Asia
Up to 20% cashback at selected merchants
$535 annual fee
$120,000
Receive 120,000 ThankYou Points (48,000 Miles) when you pay the annual fee ($535) and spend $800 within two months. T&Cs apply. Valid until 31 Jan 2023.
HSBC Visa Platinum Credit Card
Earn 1 Reward point for every $1 on all spend.
Up to 5% cash rebates on groceries, dining and fuel with minimum monthly spend of at least $600.
$0 annual fee for the first 2 years and $192.60 thereafter
$30,000
New cardholders can choose from a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback upon $500 minimum spend. Plus, receive up to $150 cashback when you apply for supplementary cards. Existing HSBC credit cardholders are eligible to receive $50 cashback. T&Cs apply. Ends 31 Dec 2022.
American Express Platinum Credit Card
Up to 50% off your food bill for unlimited visits at hotels around Singapore
N/A
$321 annual fee
$80,000
Get $100 CapitaVoucher upon payment of annual fee and first transaction within 30 days from card approval. An additional $100 worth of CapitaVouchers when you spend $2,000 within the first 3 months of card approval. Also, receive 2,500 Membership Rewards points from your base earn rate for the $2,000 spent. T&Cs apply. Valid until 31 Jan 2023.
Citi Cash Back+ Credit Card
Get up to 14% fuel discounts at Esso and Shell and 1.6% cash back on eligible retail purchases.
1.6% cash back on selected retail purchases
$0 annual fee for the first 1 year and $192.60 thereafter
$30,000
Receive 10% cash back (up to $300 cash back) on up to $3,000 spend in the first 2 months. T&Cs apply. Valid until 31 Jan 2023.
HSBC Advance Credit Card
Receive up to $200 cashback when minimum spend requirements are met.
Enjoy up to 3.5% cashback on all purchases with no minimum spend
$0 annual fee for the first 1 year (permanently waived for HSBC Advance banking customers) and $192.60 thereafter
$30,000
New cardholders can choose from a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback upon $500 minimum spend. Plus, receive up to $150 cashback when you apply for supplementary cards. Existing HSBC credit cardholders are eligible to receive $50 cashback. T&Cs apply. Ends 31 Dec 2022.
American Express True Cashback Card
Enjoy 1.5% cashback on all purchases with no minimum spend or cap.
Earn 1.5% cashback on all eligible spending with no minimum spend or cap
$0 annual fee for the first 1 year and $171.20 thereafter
$30,000
Apply today and get a 3% cashback bonus when you spend $5,000 in the first six months.
Citi Cash Back Card
Get up to 20.88% fuel discounts at Esso and Shell, 6% cashback on dining and 8% cashback on groceries.
6% cash back on dining, 8% cashback on groceries and petrol transactions. 0.25% cashback on other retail purchases, capped at $80 for all transactions per statement month.
$0 annual fee for the first 1 year and $192.60 thereafter
$30,000
Get a welcome gift of $300 cash back when you spend $800 in the first two months. T&Cs apply. Ends 31 Jan 2023.
Aspire Corporate Card
Enjoy exclusive perks and discounts with Aspire's extensive range of partners, redeemable at anytime
1% Cashback for qualified spend of above S$5,000. T&Cs apply
$0 annual fee
N/A
A corporate debit card for SMEs and Startups with no annual fee and low FX fees. Enjoy 1% cashback on marketing and SaaS spend. T&Cs apply.
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