Is this customer liable for unauthorized transactions? The cardholder noticed one charge but did not notify the bank or attempt to cancel the card. A week later the cardholder noticed more unauthorized transactions and at that point contacted the bank and filed a dispute. Should the bank allow her to file a dispute for all the unauthorized transactions, since she could have prevented the later transactions had she notified the bank after the first transaction?
I am currently auditing Debit Cards, and I would like some clarification regarding Reg E. Our Bank has decided to only pursue investigations for disputes that are under $20. The Accounting department is waiting until 45 days after the customer dispute before crediting the customer. My interpretation is that if no investigation is taking place, that we must credit the customer within 10 (plus 1 additional) business days. Accounting is waiting 45 days in case the customer files a dispute directly with the merchant and gets credited back from them. Please advise if this is reasonable, or if we need to be doing the final credit for disputes under $20 that we do not investigate in the 10 business day time frame.
EMV chip card read at the ATM. We have the information that the chip was read and now the customer is claiming unauthorized ATM withdrawals. Can we deny this dispute since the pin was verified and the chip was read? Are we still in compliance?
Customer has a business EMV chip card and is filing a dispute. The customer has possession of his card and has not lost or misplaced it. The transactions he is disputing the chip was read meaning the card and pin were present. Do we have to take the dispute?
In a business account with two signers and two debit cards, can either one of the signers sign a claim on the other signer's card?
Why do we have to investigate all Reg E EFT claims?
A consumer customer had 76 WEB/ACH unauthorized transactions occur between July 8, 2014, and July 27, 2015, totaling $74,143. The bank was able to return the most current 60 day transactions to the originating bank. The transactions were performed by the customer's secretary to pay her personal bills. What is the remaining liability to the bank?
Reg E - If a customer reports a dispute on a debit card item that is still pending, does our 10-day provisional credit begin when they report the pending item or when the item actually hard posts to the account? If it starts while the transaction is pending, what if the item posts after the 10 days?
Where can I find the regulations regarding business debit cards and disputes? I know consumers fall under Reg E, but are there different regs for businesses?
Our customer is disputing a charge from a timeshare company. She authorized the charge but has since been told it's a scam. Does this fall under Reg E and/or Visa regulations?