I have a customer who has used Cashapp for years and then claims the last couple transactions weren't his. When we asked whether he reached out to Cashapp he says they won't help him since his account was restricted.
He also won't provide us with his mailling address so we can send him a letter on the Reg E.
He also quotes Reg E Rules TO A T.
I'm like 1000% certain he's trying to defraud us but obviously can't prove it.
It's been a while since I dealt with Reg E as I was in a different part of operations and I need to seriously brush up.
So, there are so many conflicting sources regarding how the bank handles disputes when it comes to EFT service providers such as Cashapp.
Let me give you a quick update on my case.
- Customer reported 2/8/22. about 1500 in cash app transactions. He's already done hundreds of dollars in the last year consistently.
- When I asked him when he became aware of the "unauthorized" transactions he says it was that same day. I asked him if he's the only one with his online banking credentials and if he's shared his codes with anyone. He says no. I inform him that we have daily login information and IP address information and they show daily login so if he's looking at his account everyday then why didn't he inform us sooner? He then claims that he's got multiple devices and maybe someone stole one of them.
- I ask him where's he's located now because we have return mail on his account and he says he's not at liberty to say. ???
Anyway so I'm looking at all sorts of resources including some here on BOL and am so confused as to who needs to handle the dispute.
Is it Cashapp? https://cash.app/legal/us/en-us/tos
- since they are the EFT Provider and they gave him an access device (ID & Password)
We still submitted the disputes but of course we're not going to get credit. BUT we've missed the provisional credit deadline and he's quoting Reg E stating if we needed the 45 days to complete the investigation that we should have extended provisional credit. It's obvious he's going to take the money and run. Nevertheless I became aware of the whole situation on Friday 2/25 and It's been driving me crazy trying to catch up with the Reg.
So if a customer uses cashapp all the time and then disp