Skip to content

Check Card Disputes: EFT or Credit Card Rules?

Question: 
When a customer disputes transactions made with their Visa Check Card issued to them by our bank, how should the transaction be approached from a regulatory stand point? Is it EFT or Credit Card? We are having difficulty agreeing on the format we should apply.
Answer: 

Answer by Karen Garrett:


A VISA Check card is a debit card, and is governed by Regulation E (EFT transactions) not credit rules. Therefore, you should follow EFT dispute resolution procedures.

Answer: 

Answer by Andy Zavoina:


Be sure to carefully review the transaction. If it was done without accessing a line of credit (which could be a credit issue) and with a PIN, it is likely a Reg. E error resolution issue. If it was done without a PIN, the VISA (or MasterCard as applicable) error resolution rules would apply. These proprietary debit cards are often set to zero liability for the consumer.

First published on BankersOnline.com 2/3/03

First published on 02/03/2003

Filed under: 
Filed under technology as: 

Search Topics