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#1994352 - 02/06/15 10:25 PM Cardholder Dispute
SamMcD Offline
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Joined: Dec 2013
Posts: 2
I received a debit card dispute dated on Dec 27th, 2014. My customer was disputing transactions in the date range of 11-14-14 to 12-11-14. Her statements cut on the 12th of each month. I received another dispute dated 01-20-2015, for transactions that occurred on 09/25/14. We had originally given the cardholder final credit on the amount disputed first. Can I take back the credit? If she had checked her statement for September timely, the disputed amounts for November and December would not have occurred.

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General Discussion
#2002411 - 03/18/15 05:33 PM Re: Cardholder Dispute SamMcD
Bbgreen Offline
Member
Joined: Jan 2014
Posts: 76
Texas
Our policy is that we can do disputes back dated 30 days back anything before that we cannot dispute. As well as on our statements at the bottom it mentions to read your statement and discloses they have a certain time to come in and correct anything that is not right if not, what is on the statement is said to be true.

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#2002413 - 03/18/15 05:36 PM Re: Cardholder Dispute SamMcD
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
Bbgreen - you might want to read Reg E. What you are doing violates the regulation. You also search many threads here for further information.
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#2002445 - 03/18/15 06:30 PM Re: Cardholder Dispute SamMcD
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Skittles is right. Your policy can only govern non-electronic items as Reg E trumps any agreement/contract you make. In other words, you cannot have a policy or contract that violated a law. The Electronic Funds Transfer Act (Reg E) is a law that says there is no statute of limitations on making a claim on unauthorized electronic funds transfers.

Now to your question Sam: As I stated above, there is no statute of limitations on making a claim. However, there is a limit to the amount of money that you have to give based on when the first statement, showing the first error, occurred.

Read section 1005.6(b) and section 1005.11(b) very carefully. To answer your question, we'll need to know what type of error(s) occurred (card based, ACH), when the customer discovered their card was lost/stolen (if card based) or if they never had their card stolen and it was only from the statements they learned of the loss.
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#2002571 - 03/19/15 01:37 PM Re: Cardholder Dispute SamMcD
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Happy Birthday, Mr. Dickinson. Glad to see you've made it around the Sun one more time!
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BankersOnline.com
Fighting for Compliance since 1976
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#2002592 - 03/19/15 02:17 PM Re: Cardholder Dispute SamMcD
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
Ditto John's comment. Have a great birthday!!!
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#2003040 - 03/20/15 06:12 PM Re: Cardholder Dispute Skittles
Bbgreen Offline
Member
Joined: Jan 2014
Posts: 76
Texas
TYPO* Should of been 60 days. Thank you!
Last edited by Bbgreen; 03/20/15 06:22 PM.
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