Fraudulent charges can be disruptive, waste your time and tie up your funds, but Cadence Bank offers a clear and secure process to help customers resolve unauthorized transactions. Understanding your rights and the procedures to challenge a fraudulent transaction can help you get a head start on resolving issues.

Step 1: Identify and Report the Fraud

If you notice a charge you didn’t authorize, act quickly. If you’re a Cadence Bank customer, we recommend contacting customer service at 888-797-7711 to begin the dispute process. You can also visit a branch or log into your online banking account and start a chat with a personal banker to get started.

For debit card transactions, federal law limits your liability:

• For situations involving the loss or theft of an access device, you should notify the bank within 2 business days after learning of the loss or theft of the access device. By doing this, your liability may not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the bank.
  
  If you notify the bank after 2 business days but within 60 days of your statement showing the unauthorized transaction, you could be liable for up to $500. After 60 days, you may be responsible for the full amount depending on your situation.
• For situations not involving the loss or theft of an access device, you should notify the bank as soon as you notice the unauthorized transaction in your account activity, but no later than 60 calendar days after your first statement showing the first unauthorized transaction. By doing so, you can potentially eliminate your liability for the unauthorized transaction entirely.

For credit card transactions, you should notify the bank as soon as you notice the unauthorized transaction in your account activity, but no later than 60 calendar days after the first statement reflecting the unauthorized transaction. While you can often start a dispute over the phone or online, a written dispute is often required to ensure full legal protection against liability.

Step 2: Cancel Your Card and Secure Your Account

If your debit or credit card was compromised, your card issuer will cancel the card and issue a replacement.

You should also consider:

• Changing your online banking password.
• Setting up transaction alerts.
• Monitoring your account for further suspicious activity.

Step 3: Submit a Dispute

To formally dispute a charge on your Cadence Bank debit card, use your Cadence online banking portal, call customer service, or visit your local branch.

To dispute credit card fraudulent transactions, log into your online account or credit card app, select the transaction in question, and look for an option like "report a problem" or "dispute charge" to start the process online.

To ensure your rights are protected, you should send a letter to your credit card issuer within 60 days of the statement date, include the transaction details, your account information, and supporting evidence, and keep copies for your records.

Additional Tips

• Act fast. The sooner you report, the better your protection.
• Keep records. Save receipts, emails and screenshots when available.
• Use alerts. Set up transaction notifications in your Cadence online or mobile banking platform.
• Monitor your accounts. Develop a habit of logging in daily to check transactions and balances on your accounts.

For more information on fraud, be sure to visit the Cadence Bank Fraud and Security Center.

Sources:
https://cadencebank.com
https://www.consumerfinance.gov
https://www.nerdwallet.com/article/credit-cards/how-to-dispute-a-credit-card-charge https://www.consumerfinance.gov/rules-policy/regulations/1005/6

This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.