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Day One for POS or ACH Dispute

Answered by: 
John Burnett

Question: 
In regards to a POS or ACH dispute, which is considered day #1 for timeline purposes? Is it the day the dispute is reported or the following calendar day? For example, when using a day counter calendar day one begins on the following day.
Answer: 

All of the day counting in Regulation E refers to a number of days following the day of the event triggering the count. So, the first business day following the day an error resolution is filed would be day one of the 10-business-day or 20-business-day period, and the first calendar day following the day of filing would be day one of the 45-day or 90-day period, as applicable.

First published on BankersOnline.com 9/24/07

First published on 09/24/2007

Filed under: 
Technology
Filed under technology as: 
ACH
IT

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