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#1096080 - 12/11/08 10:08 PM Re: Pinless Debits - Visa Disclosures [Re: Jerseygirl]
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,466
Midwest
Our current Reg E disclosure states: Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen VISA check card. This additional limit on liability does not apply to ATM transactions using your PIN which are not processessed by VISA.

We had our brochures printed in 7/2008 and all clients received the updated brochure. Would we need to provide any additonal disclouses?

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eBanking / Technology
#1096869 - 12/12/08 10:34 PM Re: Pinless Debits - Visa Disclosures [Re: ahkcompliance]
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 38,722
Cape Cod
Check out the Zero program. I think it also excludes PINned POS transactions, since they don't go the Visa route, either.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#1100423 - 12/19/08 05:50 PM Re: Pinless Debits - Visa Disclosures [Re: John Burnett]
Marathon Junkie Offline
Member
Joined: Mar 2001
Posts: 50
Does the disclosure need to be mailed to all cardholders prior to Jan 1?
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#1632700 - 11/28/11 07:19 PM Re: Pinless Debits - Visa Disclosures [Re: banjo]
cheech Offline
100 Club
Joined: Jun 2010
Posts: 207
Chatsworh PA
Is this an annual mailing or one time thing?

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#1632830 - 11/29/11 12:10 AM Re: Pinless Debits - Visa Disclosures [Re: cheech]
'Lil Freak! Offline
10K Club
'Lil Freak!
Joined: Sep 2005
Posts: 10,595
The psych ward
From the VISA U.S.A. Operating Regulations:

6.2.A.7.b An Issuer that enables Non-Visa Debit Transaction processing on or after July 1, 2008, and does not require that all such transactions be authenticated by a PIN must:

Clearly communicate to its Cardholders at the time of implementation of such processing or at the time of issuance, and on an annual or more frequent basis thereafter, that it has enabled Non-Visa Debit Transaction processing and that it does not require that all such transactions be authenticated by a PIN
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