Sec. 1005.6 - 6(b)(3) talks about unlimited liability 'If a periodic statement shows unauthorized transfers made with a lost or stolen debit card.....' If losses are due to the use of cloned card, unauthorized information, and/or electronic use are these transactions, are these considered a stolen debit card?
For a REG E ATM Dispute we have a customer filing a claim for $700. She filed a police report and states she didn't know the individual. We have proof on video that she came into the bank with the individual in question. The customer isn't responding to our calls and we would like to know if we still need to give provisional credit and/or final credit if this this is the case.
Vendor “v” Compliance and I’m in the middle. Scenario; Our customer goes to a casino, casino issues a card, customer uses it at the casino, casino uses POS entry class code and runs it through ACH network, customer does not have a debit card with us or has not OPT-IN. If the transaction is NSF can we assess a fee? I know we can return if necessary, our vendor has an identifier on the transaction so we know it came through ACH and can return it but have been told we cannot assess a fee unless the customer has OPTIN. My interpretation of 2017 NACHA rule book pages ORxxxvi, OR 18 and OR60 is that banks should be able to assess a fee because this is an ACH transaction not a Debit Card (POS, ATM) transaction. Which rules apply to this transaction?
Customer filed a 'fraud' dispute for an ATM withdrawal that was processed as Chip and PIN and they have always had possession of their card. This is the 3rd 'fraud' dispute filed this year for ATM withdrawals where the card was always in their possession (previous disputes were on an non EMV card). They have also filed 4 other 'fraud' disputes this year for various
With new 'fraud' dispute being for a transaction that was processed as Chip and PIN and the customer always had possession of their card, do we have any grounds to deny the dispute?
If an EFT claim is made long after the statement is sent showing the transaction, the rules of investigation don't apply. So why do we investigate any of these claims?
We have a customer who signed & opted into ODP when he first opened the account in September. After the 45-day qualification period, it was found that his account was eligible for ODP so we activated the ODP on his account. A teller at his branch, however, took a request from him to revoke ODP on his account in late November. This was not relayed to the appropriate staff and the change did not get made on his account. His TV bill, which is an authorized monthly payment, came through on his account as a POS debit while he was already a couple dollars negative. It should've been declined due to NSF and him previously revoking ODP. We've since made the appropriate changes on his account to revoke ODP on his account and we've reversed all the fees he shouldn't have been charged, but the customer is saying he is not going to pay for it, and that the bank is responsible for it.
My question is - is the bank responsible for it?
I am wondering if there are any requirements of what needs to be printed on a physical credit or debit card. We currently have information about phone numbers and the fact that the card is the financial's property but I am wondering if any of this is required or if we are missing information.
Are we able to market Visa's $0 liability as long as we state certain conditions may apply?
In regards to Reg E, we know that we cannot make a customer fill out a police report to dispute a charge to receive provisional credit, however during the course of the investigation if there is true counterfeit card fraud can we then ask the customer to file the report in order for the bank to receive restitution in the event the fraudster is caught?
We have a customer who was contacted by a company offering a $5,000 loan. Our customer was interested and paid a loan processing fee of $275.99 using their debit card . Our customer was then contacted by the company needing an additional $151.99 in order to pay the taxes on the loan which was also paid by their debit card. When the loan of $5,000.00 never showed up, our customer contacted the company inquiring on the loan and was told that an additional $463.00 was needed to continue the loan process due to the customers low score.
The customer has now filed an EFT dispute with the bank. All the fees were processed through Western Union. Visa is claiming that there are no charge back rights and that the customer has to work with the merchant for the funds. This seems to be a classic loan scam.
What is the banks liability with the customer in reference to Reg E and Visa's zero liability rule?