Does something look fishy on your bank statement? Suspicious transactions can irk consumers, and it’s easy to see why that’s the case. You may not remember making a transaction or wish that you could remove an unfavorable transaction. Can the bank actually step in and remove transactions you don’t like? Here’s what you need to know if you want your financial institution to remove a transaction from your bank statement.
Can you remove transactions from your bank statement?
Most transactions will stay in your banking history forever. Each transaction is a permanent record. But banks provide some leeway if there has been a mistake. Under this scenario, it’s possible to remove certain transactions from your bank account statement.
Cases where it’s possible to remove a transaction from your bank statement
If you want to remove a transaction, it must be a mistake. You may have accidentally received the wrong transaction twice, or the merchant may have put the wrong amount for the order. Sometimes, it’s the customer who inputs the wrong number. It’s also possible that you made a transaction by mistake without knowing. Any legitimate transaction that didn’t arise from a mistake will stay on your bank statement.
Remove a fraudulent transaction from your bank statement
If a fraudulent transaction is on your bank account, you should call your bank. Not only can a representative provide guidance on getting the transaction removed, but they can also apply safeguards to your account. It’s important to keep your account protected to ensure fraudulent transactions do not become common.
Remove erroneous transactions from your bank statement
The process is the same for erroneous and fraudulent transactions. You must contact your bank via phone, email, or another method. The bank may be able to handle it for you, depending on the circumstances. There isn’t as much that you have to do if you have an erroneous transaction compared to a fraudulent transaction.
Steps to remove a transaction from your bank statement
Are you ready to remove a transaction from your bank statement? Here are the steps you can take if the transaction qualifies as a mistake or fraudulent activity.
Contact your bank or credit card company
You cannot remove a transaction on your own. A bank or credit card company can get the transaction off your statement, but you have to reach out first. Most banks and credit card companies will ask for documentation that proves the transaction should be removed.
Explain your reason for removing the transaction
Banks want proof. They need to see whether the transaction was a mistake before they can remove it. Providing this information to your bank increases the likelihood of getting the transaction removed from your statement.
Wait for a response from the bank
Banks don’t make quick decisions about removing transactions. It may take a few days for it to investigate the transaction and the proof you provided. Once the investigation is over, the bank will let you know about its decision. All of this work does not guarantee the transaction gets removed from your bank account, but reaching out creates the possibility.
Log onto your online banking portal
While it’s good to call your bank or send an email, some financial institutions let you dispute transactions online. You can access your online banking portal from any device and proceed to dispute the transaction. Granted, this choice is only available if your bank enables disputes through its online portal.
Follow up with your bank
Banks won’t provide a decision right away, but if it’s been over a week, you may want to follow up with your financial institution. The bank doesn’t always remove transactions from your bank statement, but if you get that judgment, it isn’t the end. You can follow up with the bank or merchant to dispute the transaction and request a refund.
Contact the merchant
In some scenarios, you may have to contact the merchant to reach a solution. If the transaction was done in error, you could ask the merchant to reverse or refund the payment. While this reversal will not remove the transaction from your bank account statement, it provides you with the funds from the order.
Dealing With Erroneous Transactions
No one can do everything alone. If you want an erroneous transaction removed from your statement, you will have to contact your bank and explain the situation. Even then, not all transactions get removed from your account, and you may have to reach out to the merchant. Effective communication throughout the process can speed up the outcome and help you get back the money you deserve.
FAQ
How do I hide transactions on my bank statement?
You cannot hide transactions on your bank statement. This is a safety feature that makes it easier to detect and thwart fraudulent activity.
Can I hide my bank transactions?
You cannot hide your bank transactions. They will appear on your statement.
Is it possible to delete a credit card transaction?
You can only delete a credit card transaction if it was a mistake or part of fraudulent activity. You will have to prove that’s the case when contacting your credit card company.
