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Dispute in Writing-Provisional Credit 10 Days

Answered by: 
Brian Crow

Question: 
I am reviewing a debit card dispute and it is one that we denied because after investigating, we found out the customer had signed up for this service, but I am still a little concerned with the way the provisional credit was handled. The bank received the dispute (in writing) on 11/9/18. The final letter was mailed on 11/21/18; however, no provisional credit was ever given. I was under the impression that if we received the dispute in writing, we need to give provisional credit within 10 days. Are we in compliance?
Answer: 

The provisional credit requirement is within 10 business days, not 10 calendar days. At the earliest 10 business days after 11/9/18 would be 11/23/18. The claim was denied before the 10 business day so no provisional credit was required.

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First published on 11/10/2019

Filed under: 
Compliance
Filed under compliance as: 
Debit Cards
Reg. E

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