Snowbird Alert Source: www.newscanada.com How to resolve an unauthorized credit card transaction Would you know what to do if you saw a transaction on your credit card statement that you didn’t authorize? Here are a few things to know. Recognizing an unauthorized transaction Generally, any credit card transaction that you didn’t make or approve is an unauthorized one. It can happen if your credit card is lost or stolen. Someone could also steal your identity and use your information to make purchases without your knowledge or consent. However, each bank may define unauthorized transactions differently. Read your credit card agreement carefully to make sure that you understand what is considered an unauthorized transaction by your bank. Steps to take if this happens to you If you think that an unauthorized transaction was made using your card, change your password immediately. You should also notify your bank right away and check your credit report for any credit which you didn’t apply for, such as a loan request or a new credit card. In some cases, youmay need to report the incident within a specific amount of time, as outlined in your cardholder agreement. If you don’t, you may be held responsible for the transaction and you may not get the full amount refunded. When you report an unauthorized transaction, credit card issuers must always thoroughly investigate it. What are you liable for? Are you on the hook to pay for these transactions that you didn’t make? By law, your maximum liability cannot be more than $50 for unauthorized charges on your credit or debit card. Your credit card agreement must explain your maximum liability if someone used your card without your permission. Visa, Mastercard and American Express have committed to protecting you against financial loss – that is, if someone makes an unauthorized transaction with your credit card. According to this public commitment, they won’t hold you responsible or charge any fees for the unauthorized transactions. If you’re not satisfied with a response provided by your bank, you can make a complaint. All federally regulated banks must have a complaint-handling procedure in place to deal with customer concerns. Since June 30, 2022, banks now have 56 days in which to deal with your complaint from the day youmake it. Find more information at Canada.ca/money. Do we need to worry about the flu this year? With a deadly global pandemic at the top of everyone’s mind over the last two years, catching the flu has probably been further down your list of concerns. But this coming flu season could be a major one, according to experts. One factor that suggests a potentially active year is the Southern Hemisphere’s recent flu season. Because they experience winter before countries north of the equator, the Southern Hemisphere’s flu season is a strong predictor for how ours will turn out. And this year, countries such as Australia, New Zealand, South Africa and Argentina experienced a significant flu season, according to the World Health Organization. It’s more important than ever to get your flu shot this year. After all, the flu is a serious illness. On average, more than 12,000 Canadians are hospitalized and about 3,500 die each year. Those who are older, very young children and people who are immunocompromised are at even greater risk. One thing to keep in mind is that there are different kinds of flu shots to choose from. In Canada, there are recommended vaccines based on individual factors, such as if you’re older than 65, pregnant, or if you have a chronic health condition. Your doctor or pharmacist can help you decide which vaccine is right for you. So, if you’re back in the office, the kids are going to school, you have travel plans coming up or are generally feeling as if things are getting back to normal, it’s a sound idea to get your flu shot early. To learn more and book your shot, talk to your doctor or local pharmacist. Is COVID-19 still riskier than a cold? With an influx of COVID-19 cases expected this season, many people are curious about risk and what they can do. While COVID-19 might feel less scary for many of us now that it’s been here for a few years, it is definitely not the same as a cold, even if you’re vaccinated. While vaccines are working for most people around the world, evolving variants of the virus are always a concern, as is facing long-COVID-19 symptoms after an infection. What’s more, about two per cent of the global population may remain vulnerable to COVID-19 because of an inadequate response to vaccination. The disease remains highly dangerous for this immune-compromised group. Fortunately, there are a number of prevention and treatment options available for immune-compromised individuals: Vaccines Still the core choice for preventing COVID-19, vaccines work by causing the body to produce its own antibodies against the virus that causes the illness. Antivirals These drugs are used for treatment of COVID-19 because they stop the virus from multiplying, which can help the body to recover faster from infection. Monoclonal antibodies Used for both prevention and treatment, these mimic the body’s natural antibodies to neutralize a virus and reduce the risk of the infection becoming severe. Ultimately, even though COVID-19 remains, the ways in which we can prevent and treat COVID-19 continue to evolve. You can learn more about prevention and treatment options, whether you’re immune-compromised or not, by speaking with your health-care provider and by visiting Canada.ca. 6 | www.snowbirds.org
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