Our credit card provider has a credit card application that is a pdf form. They want us to link it from our website and our customers would fill it out online and then print it out and mail it in to them. The website address for the form is not an https address, only http, which makes me not want my customer to fill it out online. Am I correct in this thinking?
Is it a Visa requirement that a customer's card be present to do a cash advance? We have customers calling asking us to take their Visa card information over the phone so they can pay their loan with the bank.
We are mailing out our statements and also provide eStatements for our customers, but if a customer does not want their statement at all can the customer elect not to receive a statement if we provide them with a form to have them elect not to receive a statement?
Does Reg E apply in the case of buyer's remorse? Example: when the customer authorized the transaction as posted and now are just unhappy?
I work for a third-party service provider for financial institutions in the compliance area for credit cards. I am trying to get my hands around a procedure due to non-compliance and there is no definition of POS that I can find. The problem is that I am fighting with the manager regarding the error resolution 45-day requirement vs the 90-day requirement. She is telling me that everything we do is POS and I need to verify that. My thoughts about a POS were that it was always a pin-based transaction and if you use your debit card as a credit card through Visa or Mastercard it falls into the Reg Z realm. Can you help me with this?
Our credit vendor does not place disputed amounts on hold for corporate VISA cards. They continue to be included in the balance amount due and also are subject to finance charges. This is only for non-fraud disputes. This is contrary to consumer VISA cards where the disputed amount is removed from the balance and then the amount due is calculated off of the remaining balance. I am not sure which rule or regulation allows or does not allow for this. Is it safe to assume that because corporations are not protected by Reg E that this may be why non-fraud disputes are treated differently for corporations?
Our customers are being charged a fee to convert foreign currency to US dollars when they use an international ATM. This fee is charged by the network and passed on to our customers. Do we need to disclose this fee in our Reg E disclosure?
From a Pakistani banker: How might we make our customers use their ATM cards more frequently as debit cards?
I have a debit card (MasterCard) customer that wants to dispute a transaction done more than 60 days from last statement date. It was authorized but he is not receiving the "service he wanted". Because it is past the 60 day time frame he has been instructed to contact the company. He then wants to know why his friends with credit cards are getting their money back from transactions from many months ago from this company. Is it true that credit cards fall under a different regulation? We are bound by the "60 days from last statement" part of the regulation.
We are in the process of setting up the process that allows our customers to access their HELOCs via a Visa Card. The card is actually a debit card though - in that it first accesses the customer's DDA account. That particular DDA account is set up and used only for this process, and works in the following manner: The customer uses card that taps into a DDA account that has a zero balance. The account automatically advances the amount of the transaction into the DDA account. So the account is debited, shows a negative balance, which is then zeroed out by the auto transfer from the HELOC. My question is two fold: With this type of process is our card considered a 'credit card'? And if not, and it is considered an actual debit card, can we send cards to existing customers unsolicited?