04/13/2015
Our bank accepts deposits in our ATMs for non-customers. Our tellers review each deposited check making sure the endorsement matches the payee before running the check through for clearing not knowing whose account is being credited. The non-customers bank receives the deposit electronically without ever seeing the check. What is our liability if John Doe deposits a check through our ATM with his ATM card, but the check is payable to and endorsed as Jane Smith or a business for that matter.
10/06/2014
What actions should one take if a customer's account had Fraudulent ACH deposits, funds were taken out using the debit card. The customer then filed REG E disputes on these transactions (which equaled the fraudulent ACH credits). If these debits equal the credits, does the customer have a valid Reg E claim? How would we go about closing the case without taking a loss? Have you seen this type of fraud before? The customer suffered no loss.
09/01/2014
Are business VISA debit card disputes covered under Reg E? Are financial institutions obligated to accept claims?
05/26/2014
We have a customer that wanted to dispute a debit card Visa transaction while it was in presentments. We held the dispute until it posted. I know with Reg E the dispute starts when posted. Does the same apply with the Visa Rules?
05/19/2014
We issue MasterCard debit cards. If a customer disputes a transaction where a PIN was used per Reg E and MasterCard, can we assess the $50.00 dollar liability? Card wasn't lost or stolen.
04/28/2014
Can an NSF fee be charged on a re-occurring POS transaction if the customer has opted in?
02/17/2014
I have a customer that today (12/27/2013) reported unauthorized charges have been occurring since 02/04/2012. This is a Visa debit card and the device was not lost or stolen, no PIN was involved. I am trying to determine if I am following Reg E or Visa rules or both. If I understand it correctly by Reg E, our institution is still liable for the February 2012 (the fraud didn't happen again until November 2012). However, because of delayed notification (with no clear reason from customer as to why it took so long), isn't she liable for everything from November 2011 until yesterday (12/2013)? She wants all the money back since February 2012
07/08/2013
How does Reg E apply to a Business? We are thinking about offering debit cards to our business customers. Does Reg E only apply to consumers regarding the liability and chargeback rights on debit cards?
05/20/2013
A large national retailer is now issuing in-store debit cards, that post transactions to our bank customers account as ACH debits. These are not credit cards - they are debit cards for use only at the designated retailer - swiped and signed just like any other card - only debiting the bank account. Our customer signed up for the card at checkout, provided her banking information, and received a discount for her purchase. One month down the road, she has $900 in debit card purchases that have posted to her account on a card that she says she never received. Can you please describe what would be considered the best practices for a bank in a dispute situation like this? And does the large retailer have a Reg E responsibility here, too? I am particularly thrown here because it is clear that she authorized the ACH debits - but the card purchases were fraudulent. With no control over the instrument or the agreement associated with it, we feel a little blindsided by this new type of dispute.
04/01/2013
We are a small community bank that does not offer an overdraft program. We elected to opt out of the Reg E amendment effective July 1, 2010 and are paying one time debit card transactions that overdraw accounts without charging an NSF fee. Obviously we are losing income because of this. We are wondering if we could charge a reactivation fee on the debit cards that have overdrawn for the second time. Example: customer overdraws account with one time debit card transaction. We suspend the card. The customer deposits and we unsuspend. The customer does it again, we suspend, they deposit and we charge a reactivation fee to reactivate the card the second time. Is this ok? If not, can we charge an annual fee on debit cards?