An authorized transaction is a transaction made with your Wealthsimple Cash card that you made. With authorized transactions, you know when, where, and why you made the transaction.
Tip: If you don't recognize a charge, you can dispute a transaction that you did not approve (an unauthorized transaction), by following the steps in this article instead.
Wealthsimple can help you dispute an authorized transaction as long as it falls within the guidelines below:
What we can help you dispute |
What we cannot help you dispute |
Product or good was not received |
Unsatisfactory product (such as not liking the taste of your food) |
The product or service was not as described |
Unsatisfactory service (such as receiving a bad haircut) |
Being overcharged |
A transaction older than 90 days |
Receiving duplicate charges |
|
Canceled transaction, but still charged |
|
Canceled subscription, but still charged |
|
Cash was not received at an ATM |
|
Missing refund or credit not processed |
Before starting a dispute
Before contacting Wealthsimple to submit a dispute for an authorized transaction, you must do two things. If you do not do both steps before submitting your dispute, it will automatically be rejected.
1. Get in contact with the merchant
If the merchant can provide a refund or other compensation, you won’t need to contact Wealthsimple. However, if the merchant is unable to resolve your issue, keep notes from your interactions with them. Try to include details like:
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Date and time of purchase
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What was purchased
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Reference number(s) from the purchase receipt
Save all email or chat correspondence you had with the merchant. Try to get written communication that they will not provide a refund, credit, or any other form of compensation for the transaction made with your Wealthsimple Cash card.
2. Wait 15 days after the transaction
You must wait 15 days before you can submit a dispute, as transactions can be reversed within 15 days of the transaction date.
After contacting the merchant and waiting 15 days
After waiting 15 business days and obtaining written communication from the merchant, please reach out to our support team directly.
They will send you a Statement of Disputed Transaction form to fill out. This form is used to investigate your transaction(s) further.
Along with this form, please provide any receipts or interactions with the merchant in an attempt to resolve the dispute. Please also let us know the following:
- Did you recently authorize a subscription/free trial?
- Have you ever had any previous activity with the merchant?
- Do you have the physical card in your possession?
- If No; When was the last time you had your card in your possession?
Frequently asked questions
Does disputing a charge impact my credit score?
No, disputing a charge does not impact your credit score.
Do I still have to pay my bill while the investigation is ongoing?
Yes, as this is a prepaid VISA card, the amount would have already been deducted from your account when you made the transaction.
How can I check the status of my dispute?
Investigations typically take 7-14 business days to come to a conclusion, so it is normal to not have an immediate response. Feel free to reach out to our support team for an update.
How can I cancel a dispute?
If you need to cancel a dispute that you’ve already submitted, reach out to our support team.
How long does a dispute take to process?
Once you have completed the Statement of Disputed Transaction form as well as provided our team with the necessary supporting documentation, we will be able to forward this to our payment processor. The review can take up to 90 days. If our team or payment processor requires any additional information, you will be contacted directly.
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