What To Do When I See An Unauthorized Transaction On My Bank Account?

Sometimes what happens is, when we have a huge amount we don’t notice the small change in the amount. But we have to keep tapping our account, we have to read each and every transaction we made because sometimes we can see an unauthorized transaction from our account. Don’t worry if you see an unauthorized transaction on your bank account, you can take action against it.

When you see an unauthorized transaction on your bank account you can contact your bank as soon as possible, don’t forget to fill out the affidavits and send them back certified mail, contact the vendor,  file a fraud case, switch your bank drafts to your new account or card, and monitor your account and credit closely.

Today in this article we will guide you on what to do when you see an unauthorized transaction on your bank account detailly. So, stay with us and read the full article mentioned below.

What To Do When I See An Unauthorized Transaction On My Bank Account

There are few things you can do when you see an unauthorized transaction on your bank account and below are the things that you can do first after you see the unauthorized transaction on your account:

Contact Your Bank As Soon As Possible

Whenever you see that there was an unauthorized transaction on your bank account, the first thing you should do is contact your bank as soon as possible. You can email, call or visit the bank for the consult.

If you want to send an email then you should follow up with a letter format and with unauthorized transaction screenshots attachment in the mail, and make sure you do this as soon as possible because bank customer support needs to follow up your mail to respond to you which make take few hours to take action.

And if you contact your bank by calling then make sure you contact the customer service of the bank directly because if you contact on regular phone number then you will be asked to call on customer service and report your problem. So make sure you find the customer service phone number from the bank website and consult what to do next.

You can also directly visit the bank with the screenshot of unauthorized transaction and directly contact the related staff and proceed with your process in the bank. They will figure out what’s wrong with your bank account.

Monitor Your Account and Credit Closely

If you are using online banking then you can directly login to your bank account from your device and check the invoice history, monitor your account and credit closely.

Check how much amount you had, how much amount has been withdrawn or added to your account, check from where the unauthorized transaction is made (Location, source of amount withdraw and if ATM which ATM location.)

And if you visit the bank ask the bank to take out all the transaction statements and ask them for detail about the unauthorized transaction (Location and source) which will help you to take action against the transaction made.

Contact the Vendor

After that, you can contact the vendor/merchant to begin the process of Disputing the Charge because some vendors may help you to present fraud charges and help you to generate the report of unauthorized transaction that will be helpful to file a fraud case with the police.

File A Fraud Case

When you have the unauthorized transaction statement of your bank account and made a report, you can file a fraud case. You can go to your local police station and report a file with the all-important and necessary report you have.

And another process is you can file an identity theft report with FTC – Federal Trade Commission from the official website of government at identitytheft.gov. By reporting with FTC you can skip filing a report with local police because federal law enforcement agencies will help you out by creating a recovery plan and giving you pre-filled latter that you can submit to the bank and clear your account.

Switch Your Bank Drafts to Your New Account or Card

When you see an unauthorized transaction on your account you can switch your bank drafts to your new account or card. But make sure you contact the bank first and switch the account.

You can create a new account talking with the bank or you can choose an existing bank account and transfer all of your amounts to the new account or card until unless you find out what was wrong in your with your bank account and why you had an unauthorized transaction.

If you decide to switch your bank then make sure you change your payment method for all the services you use(e.g. membership, services, household billing, and streaming) online. Otherwise, your expired plans won’t be updated.

Read All the Unauthorized Transaction Made

First, check all the unauthorized transactions made on your account. After that make a list of transaction made and individual get detail about the transaction to figure it out who is doing this. [You can check mobile application or directly co-ordinate with the bank to figure it out]

If someone transfer into their account gets the account number transfer. Check if they have made online payments or not, if yes from where and for what. And If the amount is withdrawn from ATM or Cheque, complain to police and ask to check the CCTV Footages.

What does the bank have to do once I report it? Can I get my money back?

When you report a bank, they will figure out what was wrong with your account and they will coordinate with the police and check all the possible methods to figure out the suspects. And once you matter is solved you will get your money back in your bank account. But it’s better you coordinate with the bank and ask them about your queries regarding unauthorized transactions because it depends on the bank accordingly.

[Note: There are some terms and conditions, and policies of the bank that’s why you should visit your bank and ask them about the policy on unauthorized transactions made in your account.]

How to stay away from unauthorized transactions?

If you want to stay away from unauthorized transactions, then the main thing is you should stay alert and focus because the special unauthorized transaction is made through your card or online banking. So, below are the steps to take care of to stay away from unauthorized transactions.

  • Do not follow scams or phishing.
  • Set up extra security if you are using the application.
  • Don’t share any personal information related to the bank account, and cards.
  • Keep checking the balance and transaction made.
  • Use caution at ATMs

In Conclusion

Lastly, whenever you see an unauthorized transaction on your bank account don’t panic stay calm and work smarter because somehow you can find out that is the reason behind the unauthorized transaction on your bank account. That’s why here in this article we have mentioned the methods that you can follow whenever you see unauthorized transactions made from your bank account. We hope you will like it.

Besides if you have any queries and suggestions regarding this article then you can leave us a comment in the comment section below. We are always here to solve your problem.

And if you want more helpful guidance on finance-related questions then you can go to the Finance category from our official website Online Help Guide.

Thank You.

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