I have heard that business accounts do not fall under Reg E. How does this apply to internet banking and what about a business account that is a sole proprietorship?
We have a credit transaction that came in today on a closed debit card. This card has been closed for so long that it is not on our system any
longer. This was presented as a "force post" transaction and did not go thru the authorization channel. Can we return this transaction even though
it is attached to a debit card?
Does a business customer have to return monies for a transaction while a dispute by the company is being processed?
We have a church account that has multiple debit card users. Do all of these cardholders need to be signers on the account?
I am reviewing a debit card dispute and it is one that we denied because after investigating, we found out the customer had signed up for this
service, but I am still a little concerned with the way the provisional credit was handled. The bank received the dispute (in writing) on 11/9/18.
The final letter was mailed on 11/21/18; however, no provisional credit was ever given. I was under the impression that if we received the dispute in
writing, we need to give provisional credit within 10 days. Are we in compliance?
We were recently told that the way we process Reg E claims (and have been since before I was here and never had an audit issue besides wording of a letter) is backwards.
Here are the few scenarios that will tell me which is right. It's September 2019:
1. If a customer comes in and says they haven’t balanced their statement for 5 years and just realized that $14.99 has been being debited from their account by Amazon since March 2016. Can you tell me what amounts or for what time periods they are owed and for which months/years?
2. If the same scenario happened but the first charge was on April 10th of
this year? Can you tell me what they are owed and for which months?
3. Last, if the customer comes in and says that he is balancing his
statements for the past two years and found several different charges that are fraud:
a. A cable bill that debited for two months after he revoked authorization in 2018.
b. Amazon Prime debited monthly for 12 months from June 2018 to May 2019 and he never agreed to it.
c. GEICO debited his account $113.00 when he hadn’t authorized it to debit his account for that payment in August 2019.
We have a member who is filing debit card fraud and claims that his card was not received in the mail. The card was activated and the caller used the
correct last four of his social security number to activate it. Is this enough to deny the disputes?
Why can't we hold a customer or member liable for having the PIN with the card?
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?
Our customer says "I canceled my account with the merchant" but does not provide any documents showing the account was canceled or says "my bill was suppose to be $23.00 but I was charged $37.00 and does not provide a receipt. Can the bank, since there is no evidence the error was invalid, decline the dispute?