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    FAQ — Bybit Card Transactions
    bybit2024-10-29 15:58:15

    What should I do if I notice a transaction that was not initiated by me?

    1. Do an online search for the name of the unfamiliar merchant, as they may have a different name from their registered business name.
    2. If you are sure that you did not make the transaction, please report your Bybit Card as lost/stolen immediately. After you freeze your Bybit card, please submit the transaction dispute form here as soon as possible, and no later than 45 days from the transaction date.
    3. If you cannot log in to your Bybit account, please reach out to Bybit Live Chat Support immediately.



     

    What are some fraud prevention tips for my Bybit Card?

    1. Do not share your Bybit Card or account information with anyone
    2. Do not save your Bybit Card or account credentials on your devices
    3. Freeze your Bybit Card when you are not using it
    4. Check that the authentication prompt is correct before you authorize any transaction

    If you notice an unauthorized transaction, please report your Bybit Card as lost/stolen your Bybit card Immediately.




     

    What should I do if my Bybit Card is lost or stolen?

    Please report your Bybit Card as lost/stolen immediately. To learn more about how to process, please refer to Security and Verification.




     

    Why was your transaction declined?

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    To check the declined reason, go to your Bybit Card Transaction HistoryAuthorizationDetails of the respective transaction.

     

    Transactions can be declined due to several common reasons below:

     

    Declined Reason

    Course of Action

    Insufficient Spending Power

    1. Check your account spending power.

    2. If you have the supported payment crypto assets in other accounts such as Spot Account or Derivatives Account, you can transfer them to your Funding Account. 

    3. If you have insufficient funds, make a Fiat Deposit or Crypto Deposit.

    The card is locked

    Please submit your inquiry via the webform and select General Usage InquiryMy Bybit Card is suspended as the inquiry option.

    This card has expired

    Go to the Bybit Card Management Page to renew your card.

    Exceeded daily spend limit

    Please check your spending limits from the Bybit Card dashboard page.

    This card is not activated

    Activate your card on the Bybit Card dashboard page.

    Generic Decline

    There are multiple reasons for this decline. Here are some possible reasons:

    • Transaction Type Not Allowed
      • We currently do not support transactions for certain merchant categories. Some examples of these include gambling merchants, money transfers, security brokers, other exchanges, top-ups to other wallet or account facilities (e.g. Revolut, Wise, Zen, etc.). Please make sure that the merchant you are transacting with is not included in these categories.
    • Incorrect CVV/Expiry Date
      • Please ensure you have entered the correct CVV and/or expiry date when making online purchases.
    • Incorrect PIN
      • Please ensure you have entered the correct 4-digit PIN.
    • PIN is Locked
      • If you have exceeded the number of tries to enter your PIN, it will be locked.
      • You can reset your PIN on the Card Management page.
    • CVV is Locked
      • If you have exceeded the number of tries to enter your CVV, it will be locked.
      • Submit a case via webform for further assistance.
     

    For other declined reasons not stated above, please submit your inquiry via the webform




     

    How to dispute a transaction?

    If your transaction has already been completed, we recommend that you contact the merchant directly to communicate or request a refund.




     

    Can I pay for products and services in foreign currencies?

    Yes, you can. We will convert the transaction amount into the denominated currency using the Master Card foreign exchange rate on the day they process the transaction. On top of that, a foreign exchange fee of 0.5% will be charged.

     

    Note: You may notice the amount authorized is slightly different from the actual transaction amount. This is due to a 3% padding applied when freezing your funds for authorization to accommodate changes in the exchange rate when the merchant completes the transaction. Any excess amount will be returned to your Funding Account. 




     

    Why does my Funding Account have a negative balance?

    There are several common reasons that may cause a negative balance in your Funding Account:

    • The foreign exchange rate at the time of settlement is higher than the estimated rate during authorization, and there are insufficient funds to cover the difference
    • The final transaction amount charged by the merchant is higher than the authorized amount, and there are insufficient funds to make up the difference

    When you have a negative balance in your Funding Account, your Bybit Card will be suspended and withdrawals from your Bybit account will be restricted. In order to lift the restrictions, please deposit or transfer funds to your Funding Account to cover the negative balance. 

     

    If you have further questions, please submit your inquiry via the webform and select My Bybit card is suspended as the inquiry option.




     

    What is the Total Markup over ECB Reference Rate?

    The Total Markup over ECB Reference Rate reflects the difference between what you pay for your Bybit Card transaction using Mastercard foreign exchange rates and fees, and what you would pay if the transaction was undertaken at the European Central Bank Reference Rate.




     

    In what currency are refunds returned to my Funding Account?

    Refunds will be returned to your Funding Account, in the currency of your card is denominated in (EUR or GBP).




     

    Does Bybit deduct my points in the event of a refund?

    In case of refunds, Bybit reserves the right to deduct your points earned from the original purchase transaction.

     

    Any feedback about Bybit Card, let our product team know here!

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