Card payment has become very normal. Not only for online purchases, but the fact of not having to carry physical money and paying with the card, so that there is no contact, is becoming more and more common. But what if you need to cancel a payment? How to cancel a card payment? It can?
If you have ever paid and you have realized that you should not have done it, or even consider that the purchase you have made is a fraud, Below you have the answer and everything you can do.
Card payment, how is it carried out?
As you know, banks issue cards linked to our bank accounts. Nevertheless, there are different types of cards that involve a different form of payment between them.
So, you can have:
- An instant payment card, that is, when a purchase is made, it is automatically deducted from your bank account.
- A deferred payment card, where, instead of deducting the money from that purchase, the bank pays it and subtracts it from your account after a time that can be two days, at the end of the month, etc.
And how to cancel a card payment?
The answer to that question is yes, you can cancel a card payment. But the process to do it is not as easy as it might seem In the first moment.
And it is that, when you need to cancel the payment and that they do not charge you that amount, there are several methods (sometimes you have to use them all, and others only with the first one would be all solved).
Ask the merchant to return the payment
Imagine that you have made a purchase. And that at that moment you realize that you can't buy it (for example, because they just called you and you bought the same thing). Then, you should go to the store and ask for your money back presenting the return of the product.
This is something common, and both offline and online, that is, in physical stores or online.
That is why always, when a refund is made that has been paid by card, theATMs ask you to give them the card with which you paid at first, because it is the way they can return it in the simplest way.
Now, if for example you have bought in an online store and you have realized that it was a fraud, then this step you may not be able to do it, and you will have to reckon with the other options.
Contact your bank
When the first option is not possible, you have to contact your bank. They are able to cancel or suspend the payment until you give them another order.
That yes, noor is it something you can do freely. The first thing is give an adequate reason why you want the payment to be canceled. In this case, and following the last example that we have given you, if you suspect that you have made a purchase in a store that is not going to send you the products, you should call your bank so that they withhold the payment until you are sure that the store is « reliable” and, if not, not pay for the order (if the store is good, it should contact you to find out if there has been any problem).
Yes, you must be fast because you must not let too much time pass or, otherwise, they would give you more problems in the bank (for example, that you have to file a complaint, that you have to fill out a series of documents and go through certain procedures).
Contact the card company
Above the benches, did you think there was no one? Well the truth is yes. The majority of cards that we use in the world are Visa or Mastercard and these companies also operate at the service of consumers. They are the ones who supply the banks with the cards, but they could also mediate in such a case.
That is, cancel a card payment through them. Now, it is not as easy as it seems because in most cases they will ask you to call your bank and have them manage it, so you will have to fight a bit to get them to listen to you (especially if the bank does not give you solutions that work for you).
Claim your bank
One last option to be able to cancel a card payment, especially if everything else has failed, is to claim from your entity the amount of that money. Now, they don't admit it easily.
TYou will have to fill out a document and attach the receipts, In addition to giving the correct reasons why your bank should return that money to you. This will normally go to the bank manager who will proceed to assess the situation and will also review your profile to finally give a positive or negative response to what you have requested.
How long does it take to cancel a card payment and return the money?
The next step once you know that a card payment can be canceled is know the time in which that money will be returned to your account, TRUE? Here it will depend on many factors. And it is that, if it is the store that returns it, it can be immediate or have a return policy of x days (that is, until x days have passed they will not be able to return the money). If it is from the bank and it does not cause you problems could be immediate (especially if they haven't collected that fee yet). And in the case of calling the card company, or a claim, here it is it may take more time because you have to justify everything.
In most cases you will not have a problem getting your money back, which is something that gives you security. But on the other hand you will not know for sure the exact time it will take to do it, and you will have to be aware of it so that you finally get the result you want.
Is it clear to you how to cancel a card payment?