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#1240893 - 08/28/09 11:02 AM Dispute- approve or deny?
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 527
Midwest
If we have a disputed EFT that posts but then is returned generally next day, but could be same day, due to insufficient funds in the account, and the customer later disputes the EFT, do you deny that dispute or approve it? There may be fees associated with the returned item- do you refund those? Trying to determine which letter should be sent, whether that should be a denial letter or an approval letter...

thanks.

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eBanking / Technology
#1240895 - 08/28/09 11:36 AM Re: Dispute- approve or deny? M&M
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,215
Galveston, TX
If it was an unauthorized transaction, you have to make the customer whole, this would include the refunding of OD fees.
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#1240907 - 08/28/09 12:12 PM Re: Dispute- approve or deny? rlcarey
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 527
Midwest
Right. Generally speaking, since it's already returned, we can't send it back. But, we do usually refund the fees. Is this considered an approval or a denial though? The letter for each instance require different disclosures, so trying to determine which is the right one to send.

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#1240921 - 08/28/09 12:46 PM Re: Dispute- approve or deny? M&M
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,215
Galveston, TX
What letter? There are no required letter formats - infact the only time you have to respond to the customer in writing is when you deny a claim or determine that the error was for a different amount. So these letters are home grown anyway. Just send them a notice saying you received there notice of an unauthorized transaction which had been previously returned and you have refunded the subsequent overdraft fees.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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