How to Cancel Wrong Credit Card Transactions?

We all might be having multiple credit cards or at least will be having one credit card. We might encountered a situation, wrong amount is taken by vendors, This can happen by mistake or intentionally they would have done that.

 Let say for example we bought some product for 100 rs and when they swipe credit card for billing they have to enter the price. In case shop keeper wrongly entered as 1000 and without seeing the price we confirmed it then 1000 rs debited from our account. Now how to  cancel this wrong transaction to get our money back?.

Option 1:

After transaction is over we will get the slip with transaction number as customer copy. Also one more copy we need to sign and give it to vendor. In case of wrong transaction vendor needs to raise the cancellation request using swipe machine along with transaction number. This is the immediate way of cancelling the transaction. Once its get cancelled we will get an message from our bank for cancellation confirmation.


Option 2:
Suppose we did not notice when we purchase the product and later realized it for wrong payment or vendor refused to cancel the transactions. In this kind of scenario we need to call up our bank customer care and inform the situation with transaction number. Bank will investigate with vendor when the claim money from bank. If vendor agrees then only money will credit back to us.

Both the options we have some risk associated to us,so its better we need to be careful before confirming the transactions.
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