Skip to content

Do We Follow Visa Rules or Reg E?

Answered by: 

Question: 
Reg E allows a $50 maximum charge to consumers who do not notify the bank within two days of lost/stolen debit cards. The VISA operating regulations say that card holder liability is $0 for unauthorized transactions. Which do we follow?
Answer: 

If it's a VISA processed transaction, you must follow the VISA rules ($0 liability). If the transaction was not processed by VISA (an ATM transaction), then you can apply the $50 liability.

First published on BankersOnline.com 9/10/07

First published on 09/10/2007

Filed under: 
Filed under technology as: 

Search Topics