Disputing Transactions On Check Card

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Question:

I have a business customer who wants to dispute several transactions that were done with her visa/check card. I believe they don't qualify. The visa check card is in an individual's name, however it is hooked to a business account with an EIN #.

Answer:

All that can be said here is that this appears to be a contractual, rather than compliance, issue. Since the account accessed with the debit card is a business account, the transactions would not be subject to Regulation E. Therefore, Section 205.11 rules on error resolution would not apply.

You may have contractual issues with the customer, however. Check out the documents covering this relationship, including your Visa operating rules, to determine what, if any, actions you need to take.

First published on BankersOnline.com 06/2/03