Visa Chargeback Reason Code

Visa Reason Code 12.3: Incorrect Currency

Category Processing ErrorsBy Payment Defender Editorial TeamUpdated July 17, 2026Last reviewed July 17, 2026

What Visa Reason Code 12.3 Means

Visa reason code 12.3 applies when a transaction was processed in an incorrect currency, or when currency conversion or dynamic currency conversion was handled improperly.

Why This Chargeback Happens

This dispute commonly occurs when the currency submitted does not match the currency agreed with the cardholder, when dynamic currency conversion was applied without proper cardholder choice, or when a conversion error occurred.

What the Cardholder or Issuer Is Claiming

The issuer claims the transaction was processed in the wrong currency or that currency conversion did not follow the required disclosure and consent.

What Merchants Should Review

Review the currency submitted, the currency presented to the cardholder, any dynamic currency conversion disclosures, and the transaction receipt.

Recommended Chargeback Evidence

Transaction receipt showing the currency presented and agreed
Documentation of dynamic currency conversion consent, if used
Records confirming the correct currency was processed

How to Prevent Similar Disputes

These disputes may be reduced by processing transactions in the correct currency, offering dynamic currency conversion only with clear cardholder choice, and disclosing conversion terms.

Important Limitations

This page is educational and reflects common industry usage. Visa currency and dispute rules change over time. Merchants should confirm current requirements with their acquirer or processor.

Related Reason Codes

Sources and Review Information

Last reviewed July 17, 2026

Chargeback rules, evidence requirements, and response options may vary by card network, region, processor, and dispute circumstances.