Disputes are an unfortunate reality of banking, we understand that dealing with disputes can be a frustrating and time-consuming process, but at Oxygen, we're committed to making the process as easy and straightforward as possible for our customers. Here's what you need to know to help you through the process:
Dispute Timeframes & Provisional Credits
What is a dispute?
It typically involves disputing a charge or seeking a resolution for a problem related to your transactions. If you notice any unauthorized or incorrect transactions on your Oxygen account, it's important to file a dispute right away.
When should you file a dispute?
You should file a transactional dispute with Oxygen as soon as you identify an unauthorized or incorrect transaction on your account. Taking prompt action is crucial to protect your rights and increase the chances of a successful resolution.
Can I prevent disputes at Oxygen?
While you can't prevent all disputes, you can reduce the risk by regularly reviewing your Oxygen account statements, monitoring your transaction activity, and promptly reporting any discrepancies or suspicious transactions.
How will I be protected from incorrect or unauthorized transactions?
Regulation E, often called Reg E, is a set of rules in the United States that protects you when you use electronic banking services like debit cards, ATMs, and direct deposits. Regulation E governs the eligibility of your provisional credits. In simple terms, Reg E is like a safety net that makes sure your money and electronic transactions are safe and fair.
How does Reg E work?
If your dispute falls under Reg E, you must provide written confirmation for your dispute within 10 business days.
You can expect the credit by the end of the 10th business day of receiving the error notice.
For new accounts, if the error occurred within 30 days after the first deposit was made, provisional credit will be extended to 20 business days.
How long does it take for the dispute to be investigated?
The Disputes team will notify you via email by the end of the 10th or 20th business day after you filed the dispute.
Please keep in mind that it may take anywhere from 45 to 90 days for the Disputes team to complete the investigation so please check your inbox regularly.
What happens if my dispute is denied?
If your dispute is denied, the provisional credit applied to your account will be reversed and the corresponding amount will be debited from your account 5 business days after receiving the final decision.
Please ensure that there are enough funds in your account to cover the provisional credit reversal and any purchases or payments you plan to make.
Written Confirmation & How to File a Dispute
When do I file my dispute?
If your transaction is still pending, please wait for the charge to settle into your account before filing a dispute.
How do I file a dispute?
Once the transaction is settled, you can email our disputes team at disputes@oxygen.us with written confirmation containing the following details:
Subject line: Dispute Written Confirmation for [First Name] [Last Name]
Body of email:
Your name:
Account number:
Merchant name(s):
Transaction date(s):
Transaction amount(s):
Reason for the dispute:
Any supporting documentation that you think will help resolve the dispute in your favor
Please be aware that listing all disputed transactions together in one email will help our team resolve the dispute faster and more effectively.
Is there a faster way to contact the disputes team?
Alternatively, you can contact our disputes team at 866-287-7021 and press 3 when prompted. Our team is available every day from 10 am to 6 pm EST (except holidays) and will be happy to guide you through the dispute process and answer any questions you may have.
How to Get in Touch with Our Disputes Team:
If you have any questions or concerns about the dispute process, please don't hesitate to contact our disputes team.
You can reach them by email at disputes@oxygen.us or by phone at 866-287-7021 and press 3 when prompted. Our team is available every day from 10 am to 6 pm EST (except holidays) and is committed to providing you with the best possible support and service.
What should I do while waiting for a resolution from Oxygen?
While waiting for a resolution from Oxygen, continue to monitor your account for any further issues. Be sure to check your email regularly, as Oxygen's Disputes team may need additional information from you.
Why is it taking so long to respond to the dispute?
While it may seem that the dispute is taking longer than necessary to be settled, remember this is a legal investigation that can take as long as 90 days.
Here are some common reasons why it might be taking longer than expected:
Complexity of the Dispute: Some disputes involve a lot of transactions, documents, or legal issues that need thorough investigation, which can take time.
Volume of Disputes: Sometimes, the bank may be handling a high volume of disputes, especially during certain times of the year. This can lead to longer processing times.
Third Parties: If the dispute involves other companies or banks, coordinating with them to gather information or resolve the issue can introduce delays.
Legal Requirements: There may be legal requirements or regulations that dictate specific timelines for certain types of disputes, which the bank must follow.
Document Verification: Ensuring the accuracy and authenticity of documents and information provided during the dispute can be time-consuming.
Investigation: Banks are required to conduct a thorough investigation to determine the validity of the dispute. This process can involve reviewing transaction records, communicating with merchants, and more.
Thank you for choosing Oxygen. We're here to help you through any disputes and ensure that your experience with us is a positive one.