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Credit card transaction dispute process

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asked on Nov 17, 2018 at 15:41
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edited on Dec 9, 2018 at 22:15
 
On 7 November 2018, my credit card was used for a transaction in Hong Kong for amount of HKD$ 24k = RM14k from a gym studio. I had immediately called the bank to stop the transaction and do the necessary (dispute form, report etc). However, this amount of RM14k has appeared on my credit card statement and my payment is due end of next week. Now the bank is asking me to pay the full payment first while my case is still under investigation. If the bank confirms that this is not valid transaction, they will reimburse me the amount after they are done with the investigation. Why does the bank still allows the transaction to go through even they know this is fraud case? Who pays RM14k for gym membership and not even in Malaysia?

It's been 2 weeks now and I want to know what is the right process. Must I pay the full amount while the case is still pending under investigation. How do I know the bank will still continue to pursue the investigation after I pay? RM14k is not a small amount. 

What if the bank insist that this is a valid transaction after their investigation. What can I do?
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answered on Nov 17, 2018 at 16:11
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Why does the bank still allows the transaction to go through even they know this is fraud case?
The bank cannot be sure that it is a fraud case, on of top that, by the time you called them the transaction has already gone through.

Who pays RM14k for gym membership and not even in Malaysia?
Celebrity gyms.  Your card is valid worldwide, so no issue here.

Must I pay the full amount while the case is still pending under investigation.

Yes.  The bank already told you to pay.

How do I know the bank will still continue to pursue the investigation after I pay?
You just have to trust the bank, after all you already signed the contract when you took the card.
In the contract, you said that you will trust the bank's discretion.

RM14k is not a small amount.
If it is a big amount to you, why take up such a big credit limit?
If you can afford to lose only RM10k, then you should have asked for RM10k limit.

What if the bank insist that this is a valid transaction after their investigation. What can I do?
You can cancel the card and pay the balance by installment so another overseas purchase will not happen again.
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