09/05/2011
We have accounts that require two signatures. When the customers have gone to places such as Walmart or Sam's Club, the check was scanned and handed back to them and a draft presented. Therefore, the signatures could not be verified. It's not the customers' fault, but we in turn, return the check for the reason "two signatures required" which I don't agree with but what else can we do?
09/05/2011
We had a Force Post debit card transaction for $1026.65. It was foreign and our customer was set to not allow non USA. How did this post?
09/05/2011
We had a Force Post debit card transaction for $1026.65. It was foreign and our customer was set to not allow non USA. How did this post?
08/29/2011
Email is such a terrific tool, but sometimes the shear volume of internal email messages can be overwhelming! Can you offer any suggestions for making internal emails less intrusive and time-consuming?
08/22/2011
I know that under Reg E business clients are not covered. However, I am confused as to what the bank's liability is with respect to Visa's Zero Liability policy when receiving a dispute for a business client that was run on the Visa network.
08/22/2011
What is hot? It is more than the weather in the country. Mobile Capture seems to be on everyone's mind. Be it Commercial Capture for mobile businesses or consumer capture for the digital native and their on-the-go smart phone world. As a financial institution, do you have a virtual strategy or are you making your technology decisions without a plan or roadmap? Are you making your technology decisions one at a time and then looking back and wondering why things don't integrate or even work they way you expected them to work?
08/15/2011
According to Regulation E, financial institutions have 10 business days from their date of notification to issue provisional credit for a dispute. In cases where the customer closes their deposit account before their provisional credit is issued, what is the proper procedure for issuing this credit? Should we reopen the account and explain to the customer that we have rights to withdraw that credit for up to 45 days?
08/15/2011
A customer has fraud on their card and the fraudulent charge is under a certain amount. When we have a smaller disputed transaction, we usually just take the loss for the item, write it off and send a letter of finalization. To my understanding, once a final letter has been sent, credit CANNOT be reversed per Reg E. I have had instances where we have written fraud items off, sent a letter, but the merchant refunds this item directly to the customers debit card giving them a second credit. Does the bank have the right to take their credit back? Do we not have the right because a final letter was sent?
08/08/2011
How do I process third party cashier checks electronically? I have a merchant account services that allows me to submit my checks (business, personal, cashier, bank draft) via a program. The problem is that the check goes to the bank for processing under my business name and not the payee name.
07/18/2011
We submitted an ACH PPD on 6/23/11. We received it back on 6/28/11 with Return Reason Code R01. Is this considered a late return?