What is the difference between a fraudulent transaction and a disputed transaction?
Fraud occurs when there has been an act of deception or misrepresentation i.e. intentional unauthorized purchases charged on the Pcard. Suspected fraud must be reported to Bank of America. Your Pcard will be cancelled and a new account will be established with all pending charges. Generally, a dispute occurs if the cardholder is charged incorrectly for an item, received damaged goods, did not receive a credit, etc and the merchant is not cooperative after the Cardholder contacts the vendor and attempts to resolve the problem. Any communication should be documented and include dates, contacts with whom you spoke to, and a brief description of the problem. The Cardholder has sixty (60) days following the billing cycle ending date to dispute the charge with Bank of America. Please refer to the Pcard manual for the procedures that must be followed when filing a dispute.
Fraud occurs when there has been an act of deception or misrepresentation i.e. intentional unauthorized purchases charged on the P-Card. Suspected fraud must be reported to Bank of America. Your P-Card will be cancelled and a new account will be established with all pending charges. Generally, a dispute occurs if the cardholder is charged incorrectly for an item, received damaged goods, did not receive a credit, etc and the merchant is not cooperative after the Cardholder contacts the vendor and attempts to resolve the problem. Any communication should be documented and include dates, contacts with whom you spoke to, and a brief description of the problem. The Cardholder has sixty (60) days following the billing cycle ending date to dispute the charge with Bank of America. Please refer to the P-Card manual for the procedures that must be followed when filing a dispute.
