It turned out that even if you cancel payment after ordering goods from overseas, it can take months to receive a refund or compensation. The Financial Supervisory Service urged people to use card alert services to prevent damage and to file objections promptly if disputes arise over overseas card payments.
The Financial Supervisory Service (FSS) on the 9th introduced overseas payment dispute cases through "Consumer precautions when using credit cards, based on major complaint cases." One consumer ordered a product from an overseas shopping site, but the site shut down and the item never arrived. The person asked the card company to cancel the payment and issue a refund but was told the process could take months.
According to the Financial Supervisory Service (FSS), when damage occurs from overseas shopping site transaction disputes, card theft, or unauthorized charges such as double billing, you can file a chargeback with international brands such as Visa or Master through your card company. However, because local merchant investigations and compensation reviews fall under the authority of the international brands, procedures are more complex than domestic transactions and processing times can be longer.
To file an objection, you must secure relevant evidence such as order details and receipts, and email or chat records exchanged with the seller. The application deadline is generally within 90 to 120 days from the transaction date or the date the slip was submitted. The Financial Supervisory Service (FSS) explained that using a card company's "overseas use safe settings" and "payment alert service" can block unauthorized use in advance and enable a quick response if an unusual transaction occurs.
It also said complaints continue to arise over replacement card issuance, revolving payments, and annual fee refunds. For replacement cards issued due to product discontinuation, consumers can refuse issuance if they do not want them, and because revolving is not a mandatory product, people should fully consider the fee burden. When canceling a card, annual fees are in principle refunded on a pro rata basis, but most basic first-year annual fees are not returned.
An official at the Financial Supervisory Service (FSS) said, "Because overseas card disputes can take a long time to process, you should secure sufficient supporting documents and actively use the preventive services provided by card companies."