What are some of the ways that the imaging technologies that are developing as a result of the Check 21 law will help us provide better customer service?
From a Pakistani banker: How might we make our customers use their ATM cards more frequently as debit cards?
I have been told that I have 5 business days to provide provisional credit to the customer when a dispute involves a Visa debit card (used as a credit,signature based) rather than the 10 business days when used as a debit (pinned based). Is that a true statement and where can I find this information within Reg E?
A mother gives a son her ATM card and her PIN to use. The son and his wife steal the card a week later and over the weekend withdraw $951.00 from the mother's account. The brother, who is not on the account calls to report the card lost and the card is placed on hot card status. The CSR is a neighbor and insists we give her money back immediately. Does the bank have any basis for not returning the money when according to REG E it was reported within the time frame? Is there any way that we can use the fact that we were told that the mother had previously given the son her card and number? Where can I find more information concerning the liability of the bank in such cases?
Regarding Positive Pay services: Is an additional Affidavit of Fraud necessary when the customer has signed an authorization to return items due to fraud? We have a customer on a Positive Pay system, and have asked them to sign an affidavit as well.
If a customer supplies card number, name, address, PIN, CVV values and expiration date via an email to someone who asks for it, and then that person creates a card and uses it to withdraw funds from an ATM, does the cardholder have any liability due to negligence? If not, given today's fraud environment is light year's beyond what was envisioned when Reg E was enacted, should the regulations be updated to define some standard of cardholder liability for negligence?
- Identity theft victims spend about 30 hours canceling accounts and filing reports.USA Today, Citibank Research, 12/14/03
If you have a customer who says they had fraud transactions at an ATM yet they still have their card, can you withhold provisional credit? Who would be liable to pay the customer back?
We are receiving more and more e-checks, drafts that come through without a customer's signature. currently, we have been contacting the customer to get their approval to pay the check, but long range this is impracticable. What do you suggest we have in place to allow for these transactions to be processed without manual intervention?
Michele Petry, Ph.D., BankersOnline.com