MasterCard Debit Card
Dispute and Fraud Claims
For the credit union to process your MasterCard dispute or fraud claim in a timely manner, please follow this guide.
MariSol Federal Credit Union’s policies and procedures for processing fraudulent and disputed transactions are governed by the Electronic Funds Transfer Act and Regulation E.
Step 1. Cardholder Dispute
When you submit a dispute, the credit union is acting on your behalf between you and the merchant. MasterCard will make the final decision as to whether or not the credit union is authorized to charge back the merchant for your purchase. If MasterCard consents to your dispute, a charge back is filed with the merchant and you will be reimbursed. Should MasterCard deny your dispute you will not be credited.
Note: Per regulation; the credit union will only process transaction disputes greater than $50.00. Members may be fully responsible for disputes less than $50.00.
Step 2. What is a dispute?
A cardholder dispute occurs when you have a disagreement with a merchant about a charge. The following are examples of disputes:
- You cancelled a transaction with a merchant, but the merchant charged you anyway (i.e.: you used your debit card to reserve a hotel room but cancelled with the hotel within the required timeframe and were charged anyway).
- You purchased an item with your debit card and later returned the item to the merchant; however, your account was not credited.
- You were charged twice for the same purchase.
- You attempted to withdraw funds at an ATM, but the cash was not disbursed from the machine and your account was debited.
- You used your card to “hold” a purchase, then paid for the purchase using another method of payment, and your debit card was also charged.
- You were charged an incorrect amount for a transaction.
- You have an issue with the quality of the goods and/or services provided.
Step 3. How we process your dispute greater than $50.00
First, prior to the credit union submitting a dispute on your behalf, you must attempt to work out the dispute directly with the merchant. Documentation of your attempt may be requested by the credit union prior to submitting your request to MasterCard.
Second, timely notice is critical! Regulation requires that you notify the credit union within two (2) business days* of the date you first become aware of the transaction. Failure to notify us within two (2) business days increases your liability from $50 to $500. If you do not notify us within sixty (60) days from when the transaction appeared on your statement, you are liable for the entire amount of the disputed transaction.
Step 4. What we need from you to process your claim:
- Cardholder Dispute Form
- All documentation supporting the transaction and your attempt to first work out the dispute with the merchant.
Step 5. What MariSol will do to process your claim:
- MFCU will review your submission for completeness and verify that the amount of your dispute is greater than $50.00.
- MFCU has ten (10) business days to process your claim. The dispute process can take up to forty-five (45) days; however, if we cannot complete our investigation with a ten (10) day period, we will provide you with a provisional/temporary credit to your account for the amount of the dispute, less $50.00. Note: If MasterCard determines that we cannot charge back the merchant for your transaction, we will withdraw the full amount of the provisional/temporary credit from your account within three (3) days of notifying you of the results.
- You will be notified of the results in writing once the investigation is complete.
What is a fraudulent transaction?
A fraudulent transaction occurs only when you have no knowledge of who used your card, and you can state with certainty that you were not aware of the transaction. You must notify the credit union within two (2) business days* upon discovering fraud. You may be required to sign an affidavit attesting to the fact that you have no knowledge of who completed the transaction(s) in question. The credit union reserves the right to require you to complete a police report if we deem it necessary for our investigation. You are responsible for all transactions you authorize using your Debit Card if you voluntarily permitted someone else to use your card and/or your PIN.
What we need from you to process your fraud claim:
- Cardholder Dispute Form
- Signed Affidavit, MariSol will contact you if this form is required
How MariSol Federal Credit Union will process your fraud claim:
- We will begin processing your claim as soon as you notify us. You may notify us in writing, over the phone, or in person at any of our branch locations.
- MFCU has ten (10) business days to process your claim. The claim process may take up to fortyfive (45) days; however, if we cannot complete our investigation within a ten (10) day period, we will provide you with a provisional credit to your account for the amount of the claim. Note: if your claim is denied by MasterCard, we will debit your account for the entire amount of the provisional credit within three (3) days of completing our investigation.
- You will be notified in writing once our investigation has been completed.
*Our business days are Monday through Friday. Credit Union Holidays are not included.
Contact us to have the form sent to you for electronic signature. [email protected]