Can someone please explain what “push” and “pull” mean in regards to e-banking?
Our cardholder's debit card number was stolen and several transactions were completed at gas pumps. No PIN was used, so we are trying to determine whether the cardholder is liable for $50 or $0. The only way our cardholder would be liable for $50 is if a non-Visa network processed the transactions. Our reports list HVIPNT in the network field and we cannot determine what that stands for. Any ideas on how to locate that acronym? Also, are we correctly understanding how Visa rules and Reg E work, in that whichever is better for the consumer is the rule we should apply?
How do you deal with e-statements that are undeliverable that bounce back to the bank unopened?
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?
Working on a Reg. E dispute for pinned transactions that I feel are done by the customer. What are the banks rights in denying these disputes and what kind of notice do we give the customer?