If a cardholder who is under contract with a merchant and that merchant feels that they are still entitled to those funds, can they force through a charge on a closed or hot-carded debit card?
Per Reg E we require a written claim form and promptly investigate all claims when that form is received.
Our brand of debit card allows us to deny a claim due to negligence.
If a consumer gives their card info, by SOP we consider that an authorized transaction.
If a consumer purchased tires and later claimed they were defective and they filed a Reg E claim, but refused to go back to the merchant, can we deny his claim?
We had a problem with debit card claims so we modified our deposit agreement. If they don’t cooperate in the claim process, we can deny it. Problem solved!
Regulation E states the investigation of a dispute must be completed within 10 business days if written notice is given, but can take as long as 45 days if oral notice is given. If a customer calls the bank to report a disputed charge on their account related to their debit card on a Monday, comes in person to sign the dispute affidavit on Wednesday in order to receive provisional credit, is the investigation to be completed 45 calendar days from Monday or 10 business days from Wednesday?
Why do we have to investigate all Reg E EFT claims?
When Reg E does apply, what kind of requirements can we place on the customer? Can we require that they file a police report or prove they have attempted contact with the merchant first?
How can we shorten the time limits in regard to a customer reporting a problem in for Reg E? Our card agreement requires provisional credit in five business days, so we want the customer to be forced to notify us sooner.