Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#2132578 - 05/31/17 08:25 PM Reg E Provisional Credit letter to cardholder
peony Offline
Gold Star
peony
Joined: Mar 2013
Posts: 250
Would below letter be sufficient for complying Reg E?:

We have received your dispute regarding your Visa Check card transaction(s). Your checking account was provisionally credited for $210.53, $213.19, and $87.69 on the above date pending resolution of this issue.

BANK has 90 days to complete the investigation on point of sale debit card transactions. We have 45 days to investigate all other electronic funds transfer transactions. If you are not contacted by BANK within 3 days subsequent to the time frames specified above, then your provisional credit is considered final. If BANK concludes that an error did not occur, then we will send you a written explanation within 3 business days after we conclude our investigation. At that time, we will notify you of any further action to be taken.


Thanks in advance.

Return to Top
Operations Compliance
#2132582 - 05/31/17 08:34 PM Re: Reg E Provisional Credit letter to cardholder peony
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
No, what if you complete your investigation after 20 days???

(iv) Reports the results to the consumer within three business days after completing its investigation (including, if applicable, notice that a provisional credit has been made final).
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2132592 - 05/31/17 08:56 PM Re: Reg E Provisional Credit letter to cardholder peony
peony Offline
Gold Star
peony
Joined: Mar 2013
Posts: 250
I need to take out this sentence: If you are not contacted by BANK within 3 days subsequent to the time frames specified above, then your provisional credit is considered final. since we are required to send a notice of the results and provisional credit being final if applicable.

Return to Top
#2132682 - 06/01/17 03:21 PM Re: Reg E Provisional Credit letter to cardholder peony
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Here's the body of a sample Provisional Credit letter we have:

Dear <Name>,

On _<date>_ you filed a claim that there were withdrawals from your account which were unauthorized. This letter is to inform you that on _<date>_ your account _<(number)>_ was given a provisional credit in the amount of _<deposit amount>_.. This is a temporary credit provided to you until we have completed our investigation of your claim.

The final resolution of your claim will be determined as quickly as possible, but no later than _<date>_. Until your claim is resolved, you have full use of these funds.

If we deny your claim for any reason, this provisional credit will be deducted from your account. You will be notified in this event.

Should you have questions regarding this provisional credit, please do not hesitate to call me at _<phone number>_.

Sincerely,
--------------------

And here's the body of a sample "Final Resolution - Provisional Credit Final" letter:

Dear <Name>,

This letter is to inform you that we have concluded our investigation regarding your electronic fund transfer(s) claim dated _<date>_.
{Case facts inserted here.}

Based on the facts of our investigation, your claim is found to be valid. On _<date>_ you were notified of a provisional credit (a temporary credit until we completed our investigation) being made of _<$amount>_ to your account _<(number)>_. This provisional credit is now permanent.

We apologize for any inconvenience this error may have caused you.

Should you have questions regarding this claim, please do not hesitate to call me at _<phone number>_.

Sincerely,
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top

Moderator:  Andy_Z, John Burnett