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#1804674 - 04/15/13 05:53 PM Rep Payee
ahkcompliance Offline
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Joined: Sep 2008
Posts: 2,474
Midwest
Would Representative Payee accounts fall under Reg E and error resolution?

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eBanking / Technology
#1804722 - 04/15/13 07:01 PM Re: Rep Payee ahkcompliance
Andy_Z Offline
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Andy_Z
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I've not seen this question before, but would initially identify the account's purpose - personal, family or household use, a consumer account. I believe this criteria would be met and the account could be Reg E applicable. Though I'd wonder what transfers are coming out of the account. I've no experience on that side. But I'm open to opinions from those more familiar with the account type.
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AndyZ CRCM
My opinions are not necessarily my employers.
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Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#1804756 - 04/15/13 07:35 PM Re: Rep Payee ahkcompliance
ahkcompliance Offline
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Joined: Sep 2008
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Midwest
Our major concern would be error resolution and chargebacks. We weren't sure if there was fraud reported on a debit card issued in the Rep Payees name if there were would be chargeback rights since it is not the account actual account owner. I am having our Card person ask our VISA rep.

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#1806245 - 04/18/13 08:46 PM Re: Rep Payee ahkcompliance
twana Offline
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Joined: Feb 2004
Posts: 20
ahkcompliance
Do you mind posting your findings? We are working on the same question this week.

Thanks.

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#1807089 - 04/22/13 08:34 PM Re: Rep Payee ahkcompliance
ahkcompliance Offline
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Joined: Sep 2008
Posts: 2,474
Midwest
I am not sure if our card service person asked the VISA rep. We ended up banking it our policy not to issue a debit card to a rep payee.

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