Reason Code 12.3Incorrect Currency

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Dispute

Card Issuer

Visa

Reason Code

12.3

Category

Processing Error

Claim

The merchant processed the wrong currency code, or the cardholder wasn’t notified or didn’t agree to the Dynamic Currency conversion.

Cause

  • The transaction currency differs from the currency the that the merchant submitted through VisaNet.
  • The merchant applied the DCC after the cardholder declined or didn’t allow the cardholder an opportunity to opt out.

Response

Cardholders and issuers have 120 days to file a dispute related to the claim against the merchant.

Merchants have 20 days to respond to the claim in dispute.

Steps to Prevention

  • Instead of automatically applying DCC to your transactions, afford customers the option to opt in or out.
  • Create systems to manage multiple currencies and train staff on correct procedures for handling the different currencies.
Visa Merchant Official Documentation
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