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#1923425 - 05/15/14 02:58 PM Unauthorized ATM Transactions on Business Card
Compliance Lover Offline
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We aren't required to provide provisional credit on a business debit card for unauthorized ATM withdrawals and we are supposed to investigate in a reasonable amount of time. What would a reasonable time frame for that be? I am actively investigating but it's a complicated situation.

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eBanking / Technology
#1923441 - 05/15/14 03:36 PM Re: Unauthorized ATM Transactions on Business Card [Re: Compliance Lover]
BrianC Online
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Illinois
Since neither Reg E nor VISA/MasterCard Zero Liability applies to ATM transactions on a business debit card. Liability and investigation requirements for these transactions should be spelled out in your cardholder agreement.
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#1923774 - 05/16/14 02:19 PM Re: Unauthorized ATM Transactions on Business Card [Re: Compliance Lover]
Andy_Z Offline
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It would help if we had more info. Reg E is NA since this isn't a consumer. SO where are your rules to investigate coming from?

As Brian noted, what have you already promised in your deposit agreement?
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#1929040 - 06/03/14 07:29 PM Re: Unauthorized ATM Transactions on Business Card [Re: Andy_Z]
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To investigate in a reasonable amount of time.

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#1929052 - 06/03/14 07:37 PM Re: Unauthorized ATM Transactions on Business Card [Re: Compliance Lover]
BrianC Online
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Illinois
Since we are dealing with contract language and not a regulatory compliance issue, "a reasonable amount of time" could be interpreted as, "We're not going to give you your money back until you sue is for breach of contract because you say we took too long."
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Moderated by:  Andy_Z