Righting wrongs. How Westpac helps you resolve credit and debit card transaction disputes.

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1 Righting wrongs. How Westpac helps you resolve credit and debit card transaction disputes.

2 Although at Westpac we do everything we can to prevent it, sometimes problems arise with credit and debit card transactions. If this happens, we ll do our best to resolve the matter on your behalf. This brochure should answer your questions on what to do in the event of a dispute on your Westpac Credit Card or Westpac Debit MasterCard and outlines the procedure we will follow to resolve it. If you need to query a transaction that was made using your Personal Identification Number (PIN), we may need to refer you to our Fraud department. If you think fraud may have been committed on your account, please call us as soon as possible on (within Australia) or (International).

3 What is a dispute? When you query a transaction on your credit or debit card statement, this is defined as a dispute. Credit and some debit card transactions are governed by the card scheme rules set by Visa, MasterCard and American Express. Among other things, these rules specify what makes a transaction valid for your card type and when Westpac can intervene on your behalf to seek reimbursement. Westpac may not be able to investigate: Quality of service provided by a merchant Contract related disputes. Westpac is unable to investigate: Billing disputes Buyer s remorse. Types of disputes Westpac will investigate: Unauthorised transactions Transactions not recognised Goods not received - the customer did not receive the ordered merchandise at the agreed-upon location or by the agreed-upon delivery date Services not rendered - the merchant was unwilling or unable to provide purchased services Cancelled regular payments - merchant continued to charge customer for a regular payment despite cancellation notification Duplication - customer charged multiple times for the same purchase Differing transaction amount Defective merchandise Goods not as described Paid by other means - for example: cash, cheque or alternate card Refund or credit not processed Refund processed as a purchase Reservation Cancellation - customer has cancelled a reservation within the merchant s cancellation period. Before you begin. Sometimes a transaction you are querying may simply be the result of a misunderstanding. Before contacting us to lodge a dispute, please consider the following explanations as they may help clear up any confusion: The company name isn t known to me. The company name that appears on your statement is the merchant s name. You may find some companies use different trading and merchant names. A quick internet search of the merchant s name or a simple phone call to the company will often confirm this. The transaction date on my statement differs to my receipt. Sometimes delays occur for your purchases to appear on your account (usually up to 7 days). The transaction amount on my statement differs to my receipt. This normally occurs when the purchase was made overseas or the merchant is based overseas. Foreign currency exchange rates change daily and therefore the amount can differ depending on the day the transaction appears on your account. We recommend you contact the merchant directly to clarify the transaction. Have you entered into a contract or agreement with the merchant? If so, you need to check the terms and conditions for your rights and responsibilities.

4 Have you recently agreed to a free trial or credit report? Many free trial and credit report companies offer a complimentary product or service but only after you have agreed to a membership. If you provided your card details, it is possible you have agreed to a paid membership once the trial ends. If you don t remember to cancel the membership before the trial ends, you ll get charged. I instructed the merchant to cancel my regular payments but they have still charged me. Merchants usually have contractual terms and conditions that specify cut-off dates for cancelling regular payments. Your instructions may have missed the merchant s cut-off date for the current period; if this is the case, the merchant is within their right to charge you. We recommend you contact the merchant directly to confirm the date they received your instructions. I don t recognise this transaction. If you can t recall the transaction, try referring to your calendar as it may help jog your memory. Could an additional cardholder have made the purchase? Check with any additional cardholders to see if they have made the purchase. If you keep your receipts, can you match them to the items on your statement? Reconciling your receipts to your statement can help clarify transactions. We also recommend you keep your receipts as they help provide a proof of purchase. What next? If you have considered the explanations and questions from BEFORE YOU BEGIN and you are still unsure about the transaction, the next step is to attempt to contact the service provider, retailer or merchant directly to clarify the transaction as soon as you have identified it. If they are uncontactable, or if you cannot come to an agreement within a few days of your initial contact, you should then raise a dispute with Westpac to investigate the transaction on your behalf. How do I raise a dispute? If you have followed the steps in BEFORE YOU BEGIN and WHAT NEXT? without a positive outcome, contact Westpac via phone to discuss your transaction. Contacts to lodge a dispute: Personal Cards By Phone (within Australia) (International) By Fax Attention: Disputed Transactions By Mail Attention: Team Leader Credit Card Disputes Westpac Banking Corporation IBN 56 GPO Box 179 Sydney NSW 2001 In Branch Come into a branch and we will assist you. What information do I need to provide? Each type of dispute has a specific timeframe and documentation requirement, so you should gather and check any available information that is relevant to your disputed transaction, to help us investigate the matter for you.

5 The dispute resolution process You have lodged the dispute via phone, fax, in branch or mail. Depending on the card and dispute type, Westpac may provide you with a temporary increase to your available funds for the disputed amount for the duration of the investigation. Depending on the card and dispute type you may receive one of two letters: A confirmation letter advising we have ordered documentation from the merchant s bank and we will contact you once the information is received. We must wait up to 45 days for a response from the merchant s bank. A confirmation letter asking you to sign and provide the information requested. This needs to be mailed or faxed back to Westpac within 15 days. Once we have received the signed document with all the requested information, if a chargeback right is available, a chargeback will be raised to the merchant s bank and a letter sent advising you. If we do not hear back from you after 15 days, we assume you have accepted the transaction and do not wish for us to proceed with the dispute. If Westpac receives merchant documentation, we will send it to you via mail. You can then either accept or further dispute the transaction. If you accept the transaction, the temporary credit you may have been provided will be reversed (debit). If you wish to continue the dispute, we will require you to provide a written reply to the merchant documentation we sent to you. Upon receipt of your written reply, further investigation will be carried out by Westpac and the transaction may be charged back to the merchant s bank. Please note: The chargeback credit is conditional as the merchant s bank may come back with further information, we will contact you if this occurs. It s important to note that you need to read through our correspondence carefully and supply the mandatory information requested. If we don t receive a reply to any correspondence sent to you requesting information within 15 days, you may lose your rights to dispute the transaction and the temporary credit you may have been provided will be reversed.

6 Frequently asked questions. In what timeframe will you resolve my dispute? As your card issuer, Westpac must adhere to timeframes and rules set by Visa, MasterCard and American Express to resolve disputed transactions. Dispute timeframes normally range from 75 days to 120 days from the date the transaction was processed to your account. It is crucial that you notify us of any disputed transactions as soon as possible to ensure we are able to exercise these rights on your behalf. Once your dispute is in progress, as some parts of the process can take more than 30 days, it is normal for no contact during this period. What is the Bank s role in resolving my dispute? Westpac will act as a liaison between you and the merchant s bank and requires evidence before a resolution can be achieved. All financial institutions that issue credit and debit cards are bound by the rules set by card schemes such as Visa, MasterCard and American Express. We are also required to comply with the Australian Electronic Funds Transfer Code of Conduct and the Code of Banking Practice. These rules and regulations provide a merchant with the opportunity to prove validity of a transaction before Westpac proceeds with a chargeback. What is a chargeback? A chargeback is a procedure in which a customer s bank (such as Westpac) reverses all, or part, of the amount of a transaction back to a merchant s bank in accordance with card scheme regulations set by Visa, MasterCard and American Express. Chargebacks are most commonly processed for: Non Receipt of Requested Documentation, Goods Not Received, Cancelled Regular Payments, Paid By Other Means, Services Not Rendered and Duplication. How will I know if my disputed transaction is under investigation? Westpac will inform you in writing if a disputed transaction is under investigation. Disputed transactions that are under investigation are also reflected on your bank statement by way of a temporary increase to your available funds while the investigation is in progress. For Debit MasterCard accounts only, because you access your own money, a temporary credit will be issued while the investigation is in progress. Do I pay interest on the transaction if I am disputing it? While the transaction is under investigation, you will not be charged any interest on the item. What payments do I need to make to my credit card when a dispute is in progress? You should continue to pay your account the same way you normally do, referring to your statement for the minimum monthly payment amount. The temporary increase to your available funds that we give you during the dispute does not change the balance owing, nor does it change the minimum monthly payment required. You must still make at least the minimum repayment on the card to avoid charges such as late payment fees and additional interest. What happens if the dispute is not resolved in my favour? You will see the transaction amount as a debit on your statement. This is not a double charge of the transaction. For Credit Card accounts only, it is a reversal of the temporary increase to your available funds that we may have offered you while the transaction was under investigation. For Debit MasterCard accounts only, we reverse the temporary credit that we may have offered you while the transaction was under investigation. How can I cancel a dispute I have lodged? You can cancel a dispute by phoning (within Australia) or (International). What happens if I don t lodge my dispute within 90 days of the transaction date? If you raise your query with Westpac after 90 days from the transaction date*, Westpac may not be able to assist due to the timeframes and rules set by Visa, MasterCard and American Express to resolve disputed transactions. We recommend raising the dispute as soon as you identify it. * Time limits may vary where the Electronic Funds Transfer Code of Conduct applies. What is Verified by Visa and MasterCard SecureCode? Verified by Visa and MasterCard SecureCode are cutting-edge secure online shopping services that work with Westpac to rely on a password to validate a transaction. This acts in a similar way as a PIN or signature for over-the-counter purchases. If a disputed transaction has been made using Verified by Visa or MasterCard SecureCode we may need to refer your case to the Westpac Fraud department as your details may have been compromised.

7 Things you should know: 1. MasterCard, MasterCard SecureCode and the MasterCard brandmark are registered trademarks of MasterCard International Incorporated. 2. Visa is a registered trademark of Visa Worldwide Pte Limited. Verified by Visa is a trademark of Visa Worldwide PTe Limited. 3. American Express is a registered trademark of American Express Company. Information current as at 13 August Westpac Banking Corporation ABN CCD100 (08/10)