Visa Card Duplicated and Charge Using Signature

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Question:

I have a business whose Visa card was duplicated and a charge completed using a signature. Do I have to give them their money?

Answer:

Although business debit cards are not covered by the consumer protections of Reg E, they are covered by the provisions of VISA's Zero Liability Protection for fraudulent charges that arise from lost, stolen, compromised, or counterfeited cards. The bank is obligated to reimburse the business customer for the unauthorized charges.

First published on BankersOnline.com 1/16/12