Requirements for Cash Advance Limits for Visa
06/24/2013
What, if any, are the requirements for cash advance limits for Visa? Do we have to allow a specific amount? I can only find that you cannot require a minimum amount.
Brian Crow is Executive Vice President at Thomas Compliance Associates, Inc. in Chicago, IL. Brian brings 20 years of prior banking experience to the consulting field. He was most recently Assistant Vice President and BSA Administrator for a suburban Chicago bank, where his responsibilities included preparing the bank's annual BSA risk assessment and audit documentation. Earlier as Operations Officer at the same bank, Brian monitored AML activity, aided in the implementation of the bank's AML software, and designed the bank's authentication blocking program that helped to reduce debit card fraud losses by 95 percent. Brian's responsibilities also included managing the bank's Regulation E claims, managing the bank's courtesy overdraft program, reviewing Reg CC hold notices for accuracy, and processing claims for fraudulent signatures and endorsements.
Mr. Crow has been, and continues to be, an education consultant for BOL Learning Connect, conducting webinars that have covered VISA/MasterCard chargebacks, debit card compliance and fraud prevention for hundreds of banks. It was in this role that Mr. Crow was recognized as a Bankers Online Guru in 2011.
Like many of us, Mr. Crow began his banking career as a teller, working his way up to head teller and then branch management responsibilities. He earned a B.A. degree in Theology from Concordia University, River Forest, Illinois. Because of his education background, Brian has been given the unofficial title of "Security Evangelist" as he strives to help financial institutions protect their bottom line from losses related to fraud.
See all Upcoming and On-Demand training presented by Brian.
You can contract Brian at b_crow@tcaregs.com.
06/24/2013
What, if any, are the requirements for cash advance limits for Visa? Do we have to allow a specific amount? I can only find that you cannot require a minimum amount.
06/17/2013
We have a customer that swiped her card at a gas pump, thought it wasn't working so went to another pump. The next person in line, used the same pump. Their charge was processed to our customer's card since she had swiped her card. Would this be a Reg E claim and if so would 50.00 liability apply since card was not lost/stolen?
06/17/2013
Is there a reason that we should not issue 5 debit cards on a business account as long as our Agreement covers us?
06/17/2013
Are we as a bank allowed to issue a debit card on a savings account only?
06/17/2013
If multiple transactions are obtained from a night deposit, and each transaction is below $10,001 but the aggregate amount is greater than $10,001, should the aggregate box be check in addition to night deposit?
06/10/2013
We have had instances where customers have filed debit card disputes after a merchant charged them twice for the same item. In most cases, the customer informs us that the merchant swiped the card and received a denied message and then swiped the card a second time and the authorization cleared. The customer then finds that the first authorization also cleared and they are then debited twice, but the merchant claims they only received payment once. Does the Bank always lose in this instance? Can we keep $50 from the customer due to liability?
06/10/2013
Do I have to complete a CTR in the following situation? A customer deposited $3200.00 and cashed a check for $7630.00
06/10/2013
FDIC insurance-husband has set up a revocable trust, he and his wife are co-ttee (co-trustees) and son is succ/ttee (successor trustee). How much is this account insured for? The wife has similar trust with names reversed and same son as suc/ttee?
06/03/2013
Business debit card customers do not fall under the Reg E dispute requirements but I understand they do have the same dispute rights under the VISA Rules - no liability for unauthorized transactions if reported within the required time frame of within 60 days after the statement with the unauthorized transaction. Can you direct me to the section in the VISA Rules that states that?
06/03/2013
If a depositary bank does not honor an improper endorsement claim, what is our next means of recourse?