Under REG E, a consumer has 60 days after their periodic statement was sent to file a dispute.

What is this timing for a business card dispute under VISA? The agreement we ordered from a vendor a few years ago states that the customer must notify us within one year from the date the periodic statement that contained the unauthorized transaction was mailed. Is this correct?

thanks,

I don't think that vendor-supplied notice has anything to do with VISA and business card disputes. You can set the notice requirement to be shorter than 60 days for business accounts. You could, for example (and only for purposes of argument) require that a business notify you within 14 days of delivery of its account statement showing the transaction in question.

One year? That's ridiculous....Ours is 21 days.

Perhaps the vendor was mirroring the Uniform Commercial Code timeframes for reporting forgeries which in most states is one year. However, even that timeframe can be modified by deposit agreement.

If you research previous threads and Guru Q & A's on this topic, you will find responses from me which reference a page on VISA's website which states that businesses do have 60 days to report an unauthorized charge to qualify for Zero Liability according to VISA Operating Rules. It's been a few years, but VISA removed this specific timeframe and now has a generic statement advising cardholders to contact their issuing bank for terms and limitations of Zero Liability. In other words, you now have much more flexibility in customizing your program.