Quick answer: if a card or account transaction was not made or approved by you, notify the financial institution immediately, secure every affected login and record the report number. The institution must investigate; the agreement may impose a short reporting period.
1. Secure the account first
- Lock the card or account if the bank offers that control.
- Change banking, email and wallet passwords from a trusted device.
- Change the PIN if it may be known.
- Review recent transactions and linked accounts.
- Check your credit report if identity fraud is possible.
2. Report every disputed transaction
Contact the number on the card or the bank’s official app or website. Identify the date, amount and merchant descriptor, and say clearly that you did not make or approve it. For deposit accounts, agreements often require a dispute within about 30 days after the statement date, but the exact term may differ. Do not wait for the next statement.
I am reporting transaction [details] as unauthorized. I did not make, approve or benefit from it. Please secure the account, investigate the transaction and give me the case number, expected timetable and written result.
3. Give the investigator useful facts
Keep the card, device and records unless the institution tells you otherwise. Explain where they were, who had access and when you first noticed the transaction. A federally regulated institution cannot hold you responsible solely because an authentication method such as a PIN was used; it should consider all the circumstances.
4. Distinguish fraud from a merchant dispute
If you made the purchase but dislike the product or the seller failed to deliver, describe it as a merchant dispute rather than an unauthorized transaction. Ask the seller for a remedy and ask the card issuer whether its dispute process applies.
5. Escalate a poor investigation
Ask for the decision and evidence in writing. Follow the bank’s complaint-handling process and keep each response. If unresolved, the final response should explain the appropriate external complaints body. You can also report suspected fraud to police and the Canadian Anti-Fraud Centre.
Important limit
Protections differ between credit cards, debit cards, deposit accounts, prepaid cards, bank transfers and cryptoassets. This guide focuses on cards and accounts at federally regulated financial institutions.