With the rise of e-commerce, online shopping has become increasingly popular. Many major banks like Bank of America now allow customers to make purchases online using their credit and debit cards. However, not all online transactions are treated equally by banks. So what exactly is considered an online purchase by Bank of America?
Online Purchases
In general, any purchase made over the internet and processed electronically is considered an online purchase by Bank of America. This includes purchases made at online retailers, food delivery services, travel booking sites, digital media stores, and more. As long as the transaction is conducted completely online and processed through online channels, it will be classified as an online purchase.
Some examples of common online purchases include:
- Buying items from online stores like Amazon, eBay, or Etsy
- Paying for subscriptions services like Netflix, Spotify, or Xbox Live
- Ordering food delivery through apps like Grubhub, Seamless, or DoorDash
- Booking flights, hotels, rental cars, or activities on sites like Expedia, Kayak, or Airbnb
- Paying bills online through vendor websites
- Purchasing digital media like eBooks, movies, apps, or games
As long as you use your Bank of America credit or debit card to complete the transaction through the internet, it will count as an online purchase.
In-Store Purchases
On the other hand, any transaction made in person at a physical retail location is not considered an online purchase. Even if you ultimately use your Bank of America card to pay, it will be classified as an in-store purchase rather than an online purchase.
Examples include:
- Checking out at the register at a store
- Paying a cashier at a restaurant
- Giving your card to a hotel front desk for incidentals
- Handing your card to a taxi or rideshare driver
These are all in-person transactions and therefore not processed as online purchases. The method of payment (your Bank of America card) does not determine whether it is an online or in-store purchase – the location of the transaction does.
Transactions Processed as Online Purchases
To summarize, the following types of transactions will be classified as online purchases by Bank of America:
- Purchases made through ecommerce sites
- Food delivery orders through mobile apps or websites
- Digital media subscriptions, downloads, and in-app purchases
- Travel arrangements booked solely online
- Online bill payments processed through vendor websites
- Any other transaction done completely over the internet
As long as you don’t physically hand your card to a person to process the payment, it is likely considered an online purchase. This classification can impact some policy details, benefits, and protections provided by Bank of America for online transactions.
Transactions Not Processed as Online Purchases
These types of transactions would NOT be considered online purchases:
- Purchases made at physical store registers
- Restaurants where you dine-in or take-out
- Giving your card to a person, like at a hotel or with a taxi
- Orders by phone that are not processed through a website
- Venmo or Cash App peer-to-peer transfers
- Withdrawing cash from an ATM
Basically any transaction that takes place in person or through direct card interactions with a card reader will not qualify as online. This is because online purchases are exclusively processed through digital channels over the internet.
How Online Purchases Appear on Statements
When reviewing your Bank of America account statement, online purchases will be denoted with the merchant name, date, and amount like any other transaction. However, the merchant name on your statement might not obviously convey that the transaction was done online.
For example, you may see a charge from “AMAZON WEB SERVICES” or “DOORDASH*SUBWAY” on your statement. These transactions occurred online but the merchant name itself does not necessarily indicate that. Your statement will not differentiate between in-store and online purchases explicitly. You have to infer whether it was an online or offline transaction based on the merchant name.
If there is any uncertainty, you can contact Bank of America’s customer service for assistance. They can look up transaction details and confirm whether it was processed as an online or in-store purchase. This can help resolve any discrepancies if you are unsure about a particular transaction.
Crediting Online Purchases
If you need to return or cancel an online purchase made with your Bank of America card, the reversal or refund will show up as a credit on your account statement. Here is how online purchase credits appear:
Returns
When returning an item bought online to the merchant, the reversal of the charge will display just like the original purchase. For example, if you bought something from Amazon and later returned it, the return credit would show up as “AMAZON WEB SERVICES” on your statement, the same as when you made the initial purchase.
The credit will have the same date as when the return was processed and will be for the amount initially charged to your account.
Cancellations
If you have to cancel an online service or subscription, the refund will hit your account statement in the same way. For example, canceling an Adobe Creative Cloud subscription may lead to a credit from “ADOBE *CREATIVE CLOUD” on your statement.
As with returns, the credit will display the date of the cancellation and be for the amount you paid for the service, prorated as applicable.
Reversals
If an online merchant processes a chargeback or reversal of an online purchase, it will show up as a credit on your statement with the merchant name, date, and returned amount.
For example, if PayPal reverses a transaction, you would see “PAYPAL *MYCOMPANY” listed as a credit on your account. Reversals appear just like refunds and returns from merchants.
Disputed Transactions
If you dispute an online purchase with Bank of America directly and the dispute is settled in your favor, the account credit will simply say “BANK OF AMERICA CREDIT” or something similar.
The date and amount related to the disputed transaction will be reflected in the credit but the original merchant name will not.
Protections for Online Purchases
Bank of America provides certain protections and benefits for debit and credit card online purchases. Here are some of the key protections to know about:
Zero Liability Protection
For credit cards and most debit cards, Bank of America offers Zero Liability protection for fraudulent online transactions or unauthorized charges. This means you are not held responsible for fraudulent charges when you report them promptly.
Extended Warranties
Online purchases made with Bank of America credit cards may be eligible for Extended Warranty protection. This extends the manufacturer’s warranty up to an additional year on eligible warranties of 3 years or less.
Purchase Protection
Credit card online purchases are covered for 120 days against damage or theft up to $500 per claim and $50,000 per account. This provides reimbursement or repairs for your purchases.
Travel and Emergency Assistance
When travel arrangements like flights, hotels, or cruises are booked online with eligible Bank of America cards, you have access to emergency travel support and assistance services in case issues arise during the trip.
Alerts and Notifications
By setting up account alerts and notifications, Bank of America customers can monitor online purchase activity and transactions in real time to identify potential fraud quickly.
Chargeback Rights
If you have an issue with an online merchant and they will not resolve it, Bank of America credit and debit cards have chargeback rights allowing you to dispute the transaction and potentially receive a refund.
Fraud Monitoring
Bank of America actively monitors accounts for patterns and signs of potential fraud, especially with online purchase activity. This can help catch unauthorized transactions quickly.
Tips for Secure Online Purchasing
To keep your information safe when making online purchases with your Bank of America card, follow these tips:
- Use secure wifi connections rather than public networks
- Check for “https” in the URL of sites to verify encryption
- Be cautious of email links and only enter payment info on known, legitimate sites
- Don’t save payment information in online merchant accounts for convenience
- Periodically update passwords, especially for online accounts
- Review statements regularly to identify suspicious transactions
- Use a credit card over a debit card which has more protections
Following basic security best practices can help minimize the risk of issues with your online purchases when using Bank of America accounts.
Conclusion
In summary, any transaction conducted over the internet and processed electronically will qualify as an online purchase with Bank of America. This includes common transactions like online shopping, food orders, travel bookings, digital media, and subscriptions. In-person transactions are not classified as online purchases, even if done with your Bank of America card.
Online purchases will appear on your account statement marked with the merchant name, date, and amount. You can receive credits back to your account for returns, cancellations, reversals, and disputed transaction settlements related to online purchases.
Bank of America offers extensive protections for online transactions including Zero Liability, Extended Warranties, Purchase Protection, Travel Assistance, and more. Following basic security practices can help keep your information safe when making online purchases with your Bank of America accounts.
