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Mastercard reason code 4846: currency error and DCC without consent

Mastercard code 4846 covers DCC without consent or an incorrectly processed currency. See when it applies, defense paths, and deadlines.

What code 4846 means and when it applies

Mastercard code 4846, “Correct Transaction Currency Code Not Provided,” covers a currency error at the point of interactionThis is where the cardholder makes the purchase or cash withdrawal, such as the merchant’s payment terminal or an ATM.. It identifies a conversion applied without the cardholder’s consent or an incorrectly processed currency. It is not a dispute over delivery of the product and is not, by itself, an allegation of fraud.

The issuer, the bank that issued the card, may file a 4846 chargeback when at least one of these two conditions is present:

  1. DCC was applied without consent. DCCDCC means Dynamic Currency Conversion. It lets the cardholder choose between the local currency and the card’s billing currency; here, the claim is that the conversion occurred without that choice. was applied, and the cardholder stated that they did not agree to the conversion.
  2. The currency was processed incorrectly and caused the wrong amount to be charged. This occurs when goods, services, or cash were offered in the card’s billing currencyThis is the currency in which the card was issued and the cardholder’s account is billed., the cardholder agreed to that currency, but the transaction was processed in another currency; or when the amount was posted in a currency different from the one quoted for the purchase. A conversion displayed only for reference does not create this condition.

Even if one of the conditions above exists, any one of these exclusions is enough to prevent the chargeback:

  1. the claim relies only on a verbal agreement between the merchant and the cardholder about the currency;
  2. the transaction is domestic in Mainland China;
  3. the transaction occurred at an ATM, but the card was not issued in Europe or the ATM was not located in Europe.

The issuer may dispute only the difference between the processed amount and the amount claimed by the cardholder. The calculation uses the exchange rate on the transaction date and excludes any conversion performed by the issuer.

Mastercard still accepts 4846 for transactions in the Dual Message SystemThis is Mastercard’s system in which authorization and clearing are processed in separate messages. Code 4846 is the legacy currency-error code in this system., but plans to eliminate it in the future. Mastercard recommends code 4834 for the same “Currency Errors” subcondition. In the Single Message System, the corresponding codes are 34, which is recommended, and 46, which is legacy.

Source for the conditions, exclusions, disputed-amount limit, and applicable codes: Mastercard Chargeback Guide, Merchant Edition, “Currency Errors,” pp. 740–743. Source for the distinction between the systems: the same guide, “Network Processing,” p. 33.

Deadlines for each party under Mastercard 4846

1 block represents 10 calendar days.

  1. IssuerFile the 4846 chargeback for a standard non-ATM transactionThe clock starts when Mastercard processes the transaction.
    Up to 90 calendar days
  2. IssuerFile the 4846 chargeback for an intra-European or inter-European ATM transaction or a Maestro transactionThe clock starts when Mastercard processes the transaction.
    Up to 120 calendar days
  3. AcquirerSubmit the second presentment with the merchant defenseThe clock starts when Mastercard settles or processes the chargeback, as applicable.
    Up to 45 calendar days
  4. IssuerFile pre-arbitrationThe clock starts when Mastercard settles or processes the acquirer’s second presentment, as applicable.
    Up to 30 calendar days
  5. AcquirerRespond to pre-arbitration before automatic acceptanceThe clock starts when pre-arbitration is submitted in Mastercard’s system.
    Up to 30 calendar days
  6. IssuerAsk Mastercard to decide the caseThe clock starts when the acquirer rejects pre-arbitration.
    Up to 15 calendar days
  7. IssuerAsk Mastercard to decide an ATM or Maestro case when pre-arbitration is optionalThe clock starts when the acquirer submits the second presentment.
    Up to 45 calendar days
These are the time limits set by Mastercard.Your deadline to submit documents may be shorter; confirm it with your acquirer.Source:Mastercard Chargeback Guide (Merchant Edition, 19 mai. 2026), “Currency Errors” (pp. 740–751), “Issuer Submission of a Pre-arbitration Case” (pp. 781–785), “Acquirer Response to a Pre-arbitration Case” (pp. 785–787) e “Issuer Submission of an Arbitration Case” (pp. 787–788)

Who files the dispute and what happens next

The issuer files a 4846 chargeback after the cardholder reports DCC without consent or an incorrectly processed currency. Under either condition, it must provide a cardholder letter, email, message, or Form 1240This is Mastercard’s standard form for recording a point-of-interaction error claim. It must describe the problem in enough detail for every party to understand the dispute. with the detailed claim.

When the claim is an incorrectly processed currency, the issuer must add at least one of these three records:

  1. Cardholder statement. It must show the disputed transaction.
  2. Issuer statement. It must identify the card’s billing currency.
  3. Transaction receipt. It must show the total amount and currency. If the receipt does not identify a currency, Mastercard treats the purchase as having occurred in the official currency of the transaction location.

For non-ATM transactions in the Dual Message System, the issuer has 90 calendar days from the Central Site Business DateThis is the processing date Mastercard records in subfield 5 of PDS 0158. The rule counts this date as day zero of the deadline.. The window is 120 calendar days for intra-European or inter-European ATM transactions and for Maestro transactions.

After receiving the chargeback, the acquirer, the institution that represents the merchant in the Mastercard card scheme, reviews the claim and the sale records. If a permitted response applies, it submits a second presentmentThis is the acquirer’s formal response, which returns the transaction to the issuer with the ground and records Mastercard requires.. For transactions not subject to a regional exception, this response must be sent within 45 calendar days of the applicable chargeback date. The acquirer may give the merchant less time to provide its evidence.

If the issuer maintains the dispute, it files pre-arbitrationAt this stage, the issuer contests the second presentment before asking Mastercard for a binding decision. within 30 calendar days. The acquirer also has 30 calendar days to respond; if it does not respond, it accepts financial liability. After a rejection, the issuer may take the case to arbitration within 15 calendar days. For ATM and Maestro transactions, pre-arbitration is optional, and arbitration may be filed within 45 calendar days of the second presentment.

Source for the documents and issuer filing window: Mastercard Chargeback Guide, Merchant Edition, “Currency Errors — Issuer Chargeback,” pp. 741–742. Source for the response and later stages: the same guide, pp. 743–750 and 781–788.

Before building a defense, check whether this dispute is invalidProving any one condition is enough to challenge the dispute's validity.
  • The claim relies only on a verbal agreement about the transaction currency.
  • The transaction is domestic in Mainland China.
  • The dispute involves an ATM, but the card was not issued in Europe or the ATM was not located in Europe.
  • The issuer did not provide a cardholder letter, email, message, or Form 1240 with the detailed claim; for an incorrectly processed currency, it also omitted all three additional records accepted by the rule.
  • The issuer included more than the difference calculated using the exchange rate on the transaction date or included an amount resulting from its own currency conversion.
  • The issuer filed outside the applicable window: 90 calendar days in the general case or 120 calendar days for intra-European or inter-European ATM and Maestro transactions.

Source:Mastercard Chargeback Guide (Merchant Edition, 19 mai. 2026), “Currency Errors”, pp. 740–742

How to reduce the risk of this reason code

If the merchant offers DCC, the choice must belong to the cardholder. Mastercard requires all of these safeguards:

  1. Do not make conversion the automatic choice. In e-commerce, an option may be preselected only if the cardholder is notified and can decline it.
  2. Do not steer the choice. The screen and the merchant’s staff must not pressure the cardholder or present one currency more favorably than the other.
  3. Show the information before the choice and authorization. Disclose the right to choose, the amount in the local currency, the amount in the billing currency, the exchange rate, and any fee.
  4. Process exactly the currency selected. If the cardholder does not choose the billing currency, the transaction must proceed in the local currency. The selected currency must be recorded in the transaction’s required technical field.
  5. Provide a complete receipt. When DCC is used, the receipt must record the amounts in both currencies, their codes, the exchange rate, and the other required conversion details.

These controls prevent a conversion from occurring without a clear decision and help identify configuration errors. Keep one distinction in mind: if the cardholder alleges lack of consent to DCC, the guide does not allow terminal logs or another document under the “Correct Currency” defense route. The receipt supports prevention and auditing, but it does not make that route a valid response.

Source for the DCC controls: Mastercard Transaction Processing Rules, §§3.8–3.8.4, pp. 107–110, and §3.13.1, p. 114. Source for the exclusion of the “Correct Currency” defense in a consent dispute: Mastercard Chargeback Guide, Merchant Edition, p. 743.

Evidence the merchant and acquirer need to gather

Clarify the charged currency

The acquirer may submit a second presentment when at least one of these four routes is complete:

  1. The currency and amount were processed correctly. The merchant provides documentation proving both facts and adds an explanation when the record is not clear on its own. This route is not available for Mainland China or for a claim that DCC was applied without consent.
  2. The cardholder’s document appears altered or falsified. The merchant must identify the exact section that was changed or created and explain why the case records support that conclusion.
  3. The refund was already issued. This route is not available for ATM transactions. If the amount was returned to the Mastercard account, the acquirer includes the date and Acquirer Reference Data (ARD)This is the reference created during processing to identify a transaction. In a refund defense, it links the returned amount to the disputed case. in the response message. If the refund was made by another method, the acquirer must attach proof of payment.
  4. The chargeback is invalid. One applicable defect is enough: the dispute does not meet the condition, was filed late or more than once, uses references that do not match the first presentment, omitted required documentation, or included documentation that is illegible, incomplete, or belongs to another transaction.

Do not combine the routes. A receipt showing the correct currency supports the first route when the claim is a processing error. It does not become an additional condition or replace the route required when the claim is DCC without consent. First identify the ground the rule permits, then gather every required item for that ground.

Source for the four routes and the documentation for each: Mastercard Chargeback Guide, Merchant Edition, “Currency Errors — Acquirer Second Presentment,” pp. 743–750.

Frequently asked questions

When does Mastercard use chargeback code 4846?

The issuer may use 4846 when at least one of two situations applies: Dynamic Currency Conversion (DCC) was applied and the cardholder states that they did not consent, or the currency was processed incorrectly and caused the wrong amount to be charged. Mastercard still accepts 4846 in the Dual Message System but recommends 4834 for the same subcondition.

Does a 4846 chargeback dispute the entire purchase?

No. The issuer may dispute only the difference between the processed amount and the amount claimed by the cardholder, calculated using the exchange rate on the transaction date. Any conversion performed by the issuer is excluded from that calculation.

What documents must the issuer provide for a 4846 chargeback?

In every case, the issuer must provide a cardholder letter, email, message, or Form 1240 with a detailed claim. For an incorrectly processed currency claim, it must also provide at least one of these records: the cardholder statement showing the transaction, an issuer statement identifying the billing currency, or a receipt showing the amount and currency.

Does proof that the cardholder chose DCC resolve a 4846 dispute?

Not under the response route called “Correct Currency.” The guide expressly excludes that defense when the claim is lack of consent to DCC and states that terminal logs or other documents do not support a valid second presentment under that route. The acquirer must determine whether another permitted defense applies, such as a prior refund, altered documentation, or an invalid chargeback.

What is the deadline for a 4846 chargeback?

For a non-ATM transaction in the Dual Message System, the issuer has 90 calendar days from the Central Site Business Date to file the dispute. The acquirer generally has 45 calendar days from the applicable chargeback date to submit the second presentment. Intra-European and inter-European ATM transactions and Maestro transactions give the issuer 120 calendar days.

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