Skip to content
BOL Conferences
Thread Options
#1203554 - 06/18/09 04:09 PM Visa - Provisional Credit
Dazed Auditor Offline
Platinum Poster
Dazed Auditor
Joined: Apr 2005
Posts: 637
Acceptance, USA America
If the bank receives the written notice of an unauthorized transaction on a Visa check card on the 10th business date after the consumer has notified the bank of the unauthorized transaction and the bank has not completed it's investigation, does the bank have to give the consumer provisional credit? I have been told that Visa requires written notification by the 5th business day in order for the customer to get provisional credit.
_________________________
I overstand.

Return to Top
eBanking / Technology
#1203746 - 06/18/09 06:06 PM Re: Visa - Provisional Credit Dazed Auditor
Skittles Online
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
Yes. You must provide provisional credit in this instance. Visa rules do not affect Reg E.
Last edited by Duchess Skittles; 06/18/09 06:06 PM.
_________________________
My Opinions Only

Return to Top
#1203833 - 06/18/09 07:06 PM Re: Visa - Provisional Credit Skittles
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
Visa requires provisional by business day 5, Reg E requires it by business day 10. You can always do more than Reg, but never less.

Visa rules are a contract between your bank and Visa, Reg E implements a law.

I don't recall that Visa requires the notice in writing? (I am asking as much as anything, I haven't had to apply Visa rules.)
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top
#1203978 - 06/18/09 08:46 PM Re: Visa - Provisional Credit Andy_Z
Dazed Auditor Offline
Platinum Poster
Dazed Auditor
Joined: Apr 2005
Posts: 637
Acceptance, USA America
I thought that provisional credit must still be given.

So if the written notice of unauthorized transaction is received on the 10th business day and the investigation has not been completed by the 10th business day, the provisional credit in this situation should have been provided on the 10th business day and not the 11th business day, correct?
_________________________
I overstand.

Return to Top
#1204106 - 06/19/09 12:13 AM Re: Visa - Provisional Credit Dazed Auditor
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
Correct, the PC is owed. If that notice was received late in the day, paying it on day 11 may not be avoidable.

My question deals with does Visa require written notice to get PC, or is it just due?
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top
#1204153 - 06/19/09 12:29 PM Re: Visa - Provisional Credit Andy_Z
Dazed Auditor Offline
Platinum Poster
Dazed Auditor
Joined: Apr 2005
Posts: 637
Acceptance, USA America
I thought Visa did require the written notice but I will have to figure that out. Thanks.
_________________________
I overstand.

Return to Top
#1204861 - 06/20/09 12:05 AM Re: Visa - Provisional Credit Dazed Auditor
Kibbles Offline
New Poster
Joined: Jul 2006
Posts: 19
Check the VISA Operating Regs-Volume 1- General Rules section 3.5.A.4.c. States: "A Visa Check Card Issuer that receives notification from its cardholder of unauthorized Visa transactions must provide provisional credit to the Cardholder's account within 5 business days of the notification. The issuer may require written confirmation from the Cardholder before providing provisional credit. the issuer may withold providing provisional credit, to the extent allowed under applicable law, If the issuer determines that the circumstances or account history warrants the delay."
Hope that helps.

Return to Top

Moderator:  Andy_Z