Chargeback claims for card transactions
If you don't recognize a transaction or didn't receive a product, you may be entitled to a refund.
If you don't recognize a transaction or didn't receive a product, you may be entitled to a refund.
If you notice an unusual card transaction that you don't recognize or if you have paid with your card for goods or services that weren't delivered, you may be entitled to a refund according to Visa's chargeback rules.
Unknown card transaction: Contact Arion immediately at 444 7000 to block your card before the chargeback process begins.
Query about a transaction you recognize: First contact the merchant to try to resolve the issue, e.g., if a product wasn't delivered or you want to cancel a subscription.
Purchase terms: Terms accepted at the time of purchase determine whether a refund can be requested.
Fraud chargeback: A chargeback request based on card fraud will be rejected if the transaction was verified by phone authentication, smartwatch, app, online banking, PIN number, or similar methods, or if the seller can prove that the cardholder personally made the purchase.
Correct grounds and necessary documentation: If a chargeback is rejected, you cannot start a new chargeback process on different grounds. Therefore, it's important to immediately make the chargeback on correct grounds and include all necessary documentation.
It is necessary to attempt to resolve the issue directly with the merchant before a chargeback can be processed for a transaction you were involved in. For example, if a product was not delivered or you want to cancel a subscription.
Check the merchant's terms and conditions to see if you are entitled to a refund.
If the issue is not resolved after communicating with the merchant and you have confirmed that you are entitled to a refund, you should proceed with a chargeback.
Copy of communications with the seller
Copy of the order or booking confirmation
Copy of the terms and conditions to demonstrate that the cancellation was carried out in accordance with the terms
Other documents, as applicable
You must make a chargeback request within 120 days from the transaction date or the date when the product or service was supposed to be delivered.
It is important to closely monitor transactions on your card. The chargeback process takes into account a maximum of 35 transactions, so it's crucial to respond quickly if anything seems suspicious.
It is important that all available information and data are provided immediately to ensure that the right to reclaim does not expire.
The process can take from a few days up to 10 weeks from when the documentation is received. The duration depends on the nature of the case and the documentation provided. Cases may take longer if the seller disputes the chargeback request.
If a refund for a card transaction cannot be obtained through the card's chargeback process and the customer is dissatisfied with the bank's response, they can find information about how to submit a complaint on the website Legal remedies for customers.
That page also contains information about the Complaints Committee for Transactions with Financial Firms, further details about this committee can be found at nefndir.is.