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Billing Error
A mistake on a billing statement or invoice. This could include incorrect charges, duplicate charges, or charges for services not provided.
More Details
A billing error is a mistake on a billing statement, such as an incorrect charge or a charge for a service that was not provided. Usually they are a result of a mistake made by the person or organization issuing the bill, or a mistake made by the account holder when providing their payment information.
Example
If you examine your credit card bill and notice that you were charged twice for the same item, this is a billing error. You can rectify this error by calling the credit card company and disputing the duplicate charge.
Related Terms
Available Balance
The amount of money that is currently accessible in an account and can be used for transactions.
Residual Interest
The interest that accumulates on a loan or credit card balance when it is not paid off in full from one billing period to the next.
Direct Deposit
A method of electronically transferring funds from an organization, such as an employer or government agency, into an individual's bank account.