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#1203554 - 06/18/09 12:09 PM Visa - Provisional Credit
Dazed Auditor Offline
Platinum Poster

Registered: 04/19/05
Posts: 620
Loc: Staring off into space...
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.
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eBanking / Technology
#1203746 - 06/18/09 02:06 PM Re: Visa - Provisional Credit [Re: Dazed Auditor]
Skittles Online
10K Club

Registered: 09/10/02
Posts: 12323
Loc: KY
Yes. You must provide provisional credit in this instance. Visa rules do not affect Reg E.


Edited by Duchess Skittles (06/18/09 02:06 PM)
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#1203833 - 06/18/09 03:06 PM Re: Visa - Provisional Credit [Re: Skittles]
Andy Z Online


10K Club

Registered: 10/27/00
Posts: 25467
Loc: 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.)
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#1203978 - 06/18/09 04:46 PM Re: Visa - Provisional Credit [Re: Andy Z]
Dazed Auditor Offline
Platinum Poster

Registered: 04/19/05
Posts: 620
Loc: Staring off into space...
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?
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#1204106 - 06/18/09 08:13 PM Re: Visa - Provisional Credit [Re: Dazed Auditor]
Andy Z Online


10K Club

Registered: 10/27/00
Posts: 25467
Loc: 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?
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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

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#1204153 - 06/19/09 08:29 AM Re: Visa - Provisional Credit [Re: Andy Z]
Dazed Auditor Offline
Platinum Poster

Registered: 04/19/05
Posts: 620
Loc: Staring off into space...
I thought Visa did require the written notice but I will have to figure that out. Thanks.
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I've spoken my piece and counted to three.

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#1204861 - 06/19/09 08:05 PM Re: Visa - Provisional Credit [Re: Dazed Auditor]
Kibbles Offline
New Poster

Registered: 07/27/06
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.

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