Provisional Credit Days Under VISA
Answer by John Burnett, BOL Guru Guru BIOS
Question: I have been told that I have 5 business days to provide provisional credit to the customer when a dispute involves a Visa debit card (used as a credit,signature based) rather than the 10 business days when used as a debit (pinned based). Is that a true statement and where can I find this information within Reg E?
Yes, it's true. But you won't find it in Reg. E. Take a look at Visa's "zero liability" program information here. It's a Visa program requirement, not a Reg. E rule. (Look under the heading "Get Quick Provisional Credit for Fraud Losses")
Because it's a requirement, however, Reg. E requires that you disclose it in some way.
BankersOnline is a free service made possible by the generous support of our
advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all
banking professionals. Support our advertisers and sponsors by clicking
through to learn more about their products and services.