Visa-terugboekingscode 12.3: Verkeerde valuta

What Is Visa Chargeback Reason Code 12.3?

Visa 12.3 is a processing-error dispute about currency. It can apply when the currency used for the transaction differs from the currency transmitted through VisaNet, or when dynamic currency conversion (DCC) was applied without the cardholder’s express agreement or an active choice to pay in the local currency.

Visa 12.2 concerns an incorrect transaction code. Treat it as a separate condition; a correct debit or credit code does not resolve a currency complaint.

Identify the currency complaint

1. Read the notice. Record the claimed correct currency, disputed amount, transaction identifier and whether the complaint concerns DCC consent.
2. Reconstruct the payment. Place the checkout or terminal record, receipt and processor currency fields in chronological order. Compare currency codes as well as amounts.
3. Separate the conversion stages. Note the currency the customer selected, the currency charged and the currency used for your settlement. A merchant’s payout currency alone does not explain the customer’s currency choice.
4. Locate any correction. Match a refund or reversal to the original payment and retain its amount, currency, date and reference.

For example, a €100 receipt paired with a payment record submitted as USD requires a currency investigation. Start with the records of that transaction rather than assuming the complaint is about the exchange rate.

How to Respond to Visa 12.3: Incorrect Currency

Use the response deadline supplied by your processor or acquirer. Visa’s 120-calendar-day issuer filing limit for this condition runs from the Transaction Processing Date; it is not the time a merchant has to respond.

Work with the acquirer on the applicable response route. Relevant records can include proof of the correct currency, an unaccounted-for credit or reversal, or confirmation that the cardholder no longer disputes the payment. A DCC response in the converted currency requires express-consent evidence, the receipt and acquirer certification about electronic customer selection.

Prepare a clear merchant evidence packet

• One transaction, one timeline. Identify the order, payment and dispute at the top. Label each attachment with the event it establishes.
• A currency comparison. Put the customer-facing amount and currency beside the processor’s submitted amount and currency. Explain any mismatch instead of leaving the reviewer to infer it.
• The actual consent record. Preserve the choices shown during this payment and the customer’s selection. A current screenshot of a different checkout cannot establish what happened earlier.
• Completed corrections. Include traceable refund or reversal records. Distinguish an attempted refund from one that completed.
• A focused explanation. Answer the currency or consent allegation directly. Order delivery records may add context, but do not substitute for the missing currency record.

If the records confirm an error, discuss correction with the acquirer. Do not invent consent or alter historical receipts. Keep a copy of the response and its submission confirmation.

How to Prevent Incorrect-Currency Disputes

Make currency handling part of payment testing and staff training. Investigate repeated mismatches at their source: checkout settings, terminal configuration, connector mappings or manual intervention.

• Test representative orders across each supported currency. Compare the checkout, authorization, capture and receipt records.
• Use explicit currency codes where symbols could be ambiguous. Review email confirmations and customer support explanations for the same ambiguity.
• For DCC, display the available choices and conversion information before the customer decides. Keep the local-currency option available and let the customer make the selection.
• Retain the currency choice and configuration version with the transaction so a later review can reconstruct the original experience.
• Train staff to escalate currency errors rather than manually substituting a different currency.
• Reconcile corrections with the original payment and verify that the customer-facing record matches the completed refund.

Editorial basis: Visa Core Rules and Visa Product and Service Rules, 18 April 2026 edition, section 11.9.2. Confirm the case-specific requirements with your acquirer.