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Dispute on Business Debit Card

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Question: 
A business debit cardholder filed a dispute. Since businesses are not covered under Reg E, what time frames apply? Do I need to have it resolved in 5 days, do I give them provisional credit? I am uncertain what rules to follow!
Answer: 

If the transaction is one that is covered by the Visa or MasterCard business card zero liability requirement, you'll have to conform to whatever timing requirements are involved in the card association's program rules. That may include having to provide credit within 5 days. Those same disputes, then, can be followed up using the card association's operational rules.

If the dispute is not covered by a Visa or MasterCard zero-liability policy, but involves a Visa or MasterCard transaction (signature debit), follow the card association's procedures for resolving the problem.

Otherwise, you're only bound by whatever your cardholder contract says.

First published on BankersOnline.com 1/24/11

First published on 01/24/2011

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