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#697905 - 03/07/07 04:13 PM Reg E - transactions outside the US
Bville Offline
Diamond Poster
Bville
Joined: May 2001
Posts: 1,282
Out West
Does Reg E cover transactions performed at ATMs outside of the US? A customer had a debit check card in the Philippines and is claiming that transactions made at an ATM there were unauthorized. I saw the definition of “state” in the regulation, but am not seeing any place else in the regulation that includes the word state. If someone can tell me where to look in Reg E, I would really appreciated it!

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#697949 - 03/07/07 04:53 PM Re: Reg E - transactions outside the US Bville
MN Banker Offline
Platinum Poster
Joined: Aug 2006
Posts: 980
From 205.3:

(3. Foreign applicability. Regulation E applies to all persons (including branches and other offices of foreign banks located in the United States) that offer EFT services to residents of any state, including resident aliens. It covers any account located in the United States through which EFTs are offered to a resident of a state. This is the case whether or not a particular transfer takes place in the United States and whether or not the financial institution is chartered in the United States or a foreign country. The regulation does not apply to a foreign branch of a U.S. bank unless the EFT services are offered in connection with an account in a state as defined in §205.2(l).

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#697998 - 03/07/07 05:49 PM Re: Reg E - transactions outside the US MN Banker
Compliancer Offline
Gold Star
Compliancer
Joined: Jan 2006
Posts: 334
San Francisco, CA
One benefit about foreign transactions under Reg. E is that you have 90 days to resolve the investigation.
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