If there are incorrect transactions on your monthly statement, treat it as urgent and act the same day you spot them.

Step 1: Double-check the transaction

  • Confirm it’s really wrong: check dates, amounts, merchant names, and whether a family member or joint-account holder made the purchase.
  • Look back at recent subscriptions, trials, and recurring payments that you might have forgotten about.

Step 2: Contact your bank immediately

  • Call your bank or card issuer right away using the number on the back of your card or from their official website.
  • Tell them clearly that there are incorrect or unauthorised transactions and that you want them investigated and reversed if possible.
  • Ask them to block or replace the card, or temporarily freeze the account if you suspect fraud, so no more bad charges go through.

Example: You check your statement tonight, see three small charges from a store you’ve never heard of, and call your bank within minutes to report them and cancel your card.

Step 3: Get a reference and keep records

  • Ask for a case or reference number for your report and write down the date, time, and name of the person you spoke to.
  • Follow up in writing (email or secure message) summarising what you reported and what the bank said they would do, and keep a copy.

Step 4: Use chargeback or error-dispute rights

  • Ask the bank whether you can file a formal dispute or chargeback for the incorrect transaction, especially if it’s a card payment.
  • Provide any evidence: screenshots, receipts, emails with the merchant, or anything that shows the charge is wrong.
  • In many systems, banks must investigate within set time frames and tell you the outcome in writing, sometimes with temporary credit while they investigate.

Step 5: Escalate if the bank doesn’t help

  • If the bank refuses to correct what you believe is clearly an error, ask about their internal complaints process and submit a written complaint.
  • If you’re still not satisfied after their final response, you may be able to go to an external dispute body or financial ombudsman, depending on your country.

Step 6: Prevent future incorrect transactions

  • Turn on alerts (SMS/app notifications) for every card or account transaction so you can spot problems quickly.
  • Use strong passwords, multi-factor authentication, and avoid saving card details with sites you don’t fully trust.
  • Regularly review statements instead of waiting for large or obvious errors to appear.

TL;DR:
Check the transaction, then contact your bank immediately, dispute or request a chargeback in writing with evidence, keep all records and reference numbers, escalate to a complaints or ombudsman body if needed, and tighten your security and alerts so you catch anything wrong as early as possible.

Information gathered from public forums or data available on the internet and portrayed here.