Reporting an unauthorized card transaction
If you need to report a card transaction, it is best to try to resolve the issue first with the vendor. If this doesn’t work, we can help you with the refund process.
If you don’t recognize a transaction on your card, you can freeze the credit card immediately in the Arion app while the incident is being investigated. If the transaction turns out to be fraudulent, you need to contact Arion Bank immediately and cancel the card in question before the chargeback process can begin. Outside the Bank’s regular opening hours you can call Valitor on (+354) 525 2000.
No electronic ID
If you don’t have electronic ID, you need to apply for a chargeback by completing and signing a chargeback form and then send it with the relevant documents to endurkrofur@arionbanki.is or take it to your nearest branch of Arion Bank.
Refund process
Please note that the refund process can take 5-10 weeks once all the supporting documents have been received. The length of time varies but may be longer if the vendor objects to the claim for a refund and the supporting documents.
The right to issue a chargeback for card transactions
It is not possible to issue a chargeback for fraudulent transactions which the cardholder has carried out and confirmed themselves. This refers to transactions carried out using a PIN, using mobile payment solutions or online transactions confirmed on the app or online banking platform or using the security number sent by SMS.
The terms which the cardholder agrees to when buying a product or service determine the right of the cardholder to request a chargeback. This applies to the right to reimbursement if a service or subscription is cancelled or an ordered product is not received.
Common types of chargebacks
+ There’s a transaction on my card I don’t recognise
If there is a transaction on your card which you don’t recognise, or if you believe it might be fraudulent, we will help you claim a refund.
- It is important to close or freeze the card as quickly as possible to ensure that further transactions are not made on the account.
- You can then ask for the transaction to be refunded by submitting a completed and signed refund form.
- It is important to include all relevant information and supporting documents with the claim for a refund.
- Please note that a claim for a refund must be made within 90 days of the transaction date. If the claim for a refund is not received by then, there is a chance that the time limit for claiming a refund will have expired.
+ I ordered a product/service which I have not received
If you have not yet received a product or service you have paid for with your card you must first try to resolve the issue by contacting the vendor. If this is unsuccessful we will help you claim a refund for the transaction.
- You can’t begin the refund process without first trying to resolve the issue with the vendor.
- You must provide the following information/documents to claim a refund:
- A completed and signed refund form.
- Information showing that you have tried to resolve the issue with the vendor and a copy of any dealings with the vendor, if applicable.
- A copy of the booking/order or other information stating what had been booked/ordered and when the estimated delivery date of the product/service was.
- Confirmation that the product or service has not been received.
- Please note that in order to begin the refund process, all information and supporting documents must be submitted within 90 days of the date the product or service should have been received. If this information is not received by the specified time, there is a chance that the time limit for claiming a refund will have expired.