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#2194025 - 09/27/18 04:13 PM Cash Advance
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
We are revisiting our cash advance liability.

I want to make sure under VISA/MasterCard rules as long as we: identify the cardholder, document the ID, and obtain a valid authorization with the cardholders signature on the receipt, the liability is pushed to the issuer?

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Operations Compliance
#2194027 - 09/27/18 04:17 PM Re: Cash Advance ahkcompliance
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,272
Illinois
All of what you have posted and also your cash advance terminal must be chip enabled to avoid chip liability shift from the issuer. Where acquirers will lose on cash advances is when the bad guys convince a teller to "talk to the bank on their cell phone to get a voice authorization" and you process the advance with a bogus authorization code. Never obtain voice authorizations unless you are calling the phone number on your cash advance terminal.
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#2194039 - 09/27/18 04:37 PM Re: Cash Advance ahkcompliance
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
Thanks! I wanted to verify our liability.

We had a loss awhile back but it was because our terminal was not chip enabled which it is now.

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#2194058 - 09/27/18 05:39 PM Re: Cash Advance ahkcompliance
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
Do you know the sections of the VISA and MasterCard rules where it states our liability, etc?

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