We have recently started offering ATM and Check cards to our consumer customers. Some of our small business account customers are now requesting an ATM and Check card. These customers are classified as business accounts on our system. Can we issue these business accounts the same card we are giving to our consumer accounts and if so, does Reg E apply to the business accounts with this card?
Reg E allows a $50 maximum charge to consumers who do not notify the bank within two days of lost/stolen debit cards. The VISA operating regulations say that card holder liability is $0 for unauthorized transactions. Which do we follow?
When a ordering debit cards for customers, are there any guidelines that state a bank is required to obtain a signature to order the card?
We are considering offering a debit cards to our corporate accounts, what type of disclosures will be needed?
Can you provide insight into what regulatory impact, if any, is associated with ACH debit cards? For example, does this product fall under Reg E compliance?
A customer filed a dispute stating that her husband used her debit card while she was in jail. The transactions happened in November and she went to her branch in January to report the transactions. Under Reg E is she responsible for the charges?
Our bank is considering offering Business Debit Cards, can you suggest a resource to identify the liability to the bank and how that liability may be passed on to the customer?
We provide provisional credit to our cardholders as required by Visa when they file a dispute. Are there any required letters that must be sent to the cardholder during the resolution process?
We are preparing to offer a new product, the Debit Card, to customers. What disclosures are required?
This question is in regard to the daily limits we place on both Consumer and Business Debit Cards. I'm looking for something that states whether or not the cardholder is responsible for requesting a higher limit. I want to know if we can state to the cardholder that they will be held liable for requesting their limit be raised higher than what we have as standard should the card be lost/stolen.