Latest Security - Debit Cards Topics

Revocation of a power of attorney

09/22/2019

Our customer notified us in writing he has revoked the power of attorney he gave to Sam Smith. Does the revocation apply to all of our customer’s accounts that Sam signs on?

Reg E investigations: best steps

06/02/2019

Is there a procedure that Reg E says we must follow to investigate a claim?

VISA’s merchant contact requirement

08/21/2016

Can we require that a debit cardholder contact the merchant before opening a claim?

ATM Fraud: Skimming vs. Shimming

04/25/2016

For several years now, the most prevalent form of ATM fraud has been “Skimming”, where a device is attached to an ATM that captures magnetic stripe data as the card passes into a machine. We recently heard of a new ATM fraud technique called “Shimming”. Are they the same thing?

Run OFAC on Non-Customers for VISA SS/Tax Refund?

04/29/2013

Do you have to run OFAC on non-customers presenting VISA debit cards for payment of social security or tax refunds?

Customer Negligence in Stolen Debit Cards

07/04/2011

Scenario: John Doe has his and his wife's VISA-branded debit cards stolen (he has possession of both of them). The PINs are written on or in his wallet with the cards. He notifies us within a day of the loss. The Card thief uses the cards, and between both cards, spends approximately $2,700. Several transactions are at an ATM. Others are POS transaction, and we're determining now if they're PIN or Signature-based. What will the bank's liability be on all these transactions, taking the customer's negligence into account?

Debit Cards for Minors Receiving SS Direct Deposit

09/08/2008

I have a customer that opened three accounts, one for each of her children as they receive Social Security direct deposit benefits. The mother is the signer on each account and the individual child was added as an owner only because they are only nine, eleven and seventeen years of age. The mother wants debit cards in the children’s names so she can keep the account straight as to where she is pulling the money from. Can we issue debit cards to a minor and if so, would the mother have the legal right to use them? How would it be handled if the child’s card was used and they wanted to dispute the transaction?

Debit cards for Foreigners

06/02/2008

Are there any regulations or laws out there that deal with giving a debit card to a foreigner without a social security number? I am having trouble getting started.

Selling Account Monitoring

04/03/2006

We are thinking about monitoring customer accounts for activity and notifying them when it is unusual. How can Marketing help put a positive spin on this instead of a privacy woe?

Holiday Effort to Benefit Hurricane Areas

12/01/2005