05/23/2011
A customer had her ATM card stolen and claims the PIN was not written on the card and that it could not be easily guessed. There were two withdrawals done at a foreign ATM before she notified us (same day just a few hours later). The transaction journal showed no invalid PIN attempts. She filed a police report and the police dept. was able to retrieve photos. We issued her provisional credit within the time frame as per Reg E. We have contacted her to view photos but she has made excuses not to come in. Even though the photos clearly show she is not the one who did the withdrawals, can we hold her liable for the $50.00 since there were no invalid PIN attempts and she's no longer being co-operative in helping to identify a possible suspect?
05/23/2011
A customer had her ATM card stolen and claims the PIN was not written on the card and that it could not be easily guessed. There were two withdrawals done at a foreign ATM before she notified us (same day just a few hours later). The transaction journal showed no invalid PIN attempts. She filed a police report and the police dept. was able to retrieve photos. We issued her provisional credit within the time frame as per Reg E. We have contacted her to view photos but she has made excuses not to come in. Even though the photos clearly show she is not the one who did the withdrawals, can we hold her liable for the $50.00 since there were no invalid PIN attempts and she's no longer being co-operative in helping to identify a possible suspect?
04/18/2011
I have found both 45 calendar days and 90 calendar days as the number for final resolutions in Reg E disputes. What is the difference between these two?
04/11/2011
A customer has given his debit card PIN to his partner in Dec. 2010. The partner uses the card in Jan./Feb. 2011 to do $23,000 in ATM withdrawals and over $7,000 in POS transactions. Can the claim be denied because the customer did not change or protect the card and or PIN?
02/28/2011
We have received several ATM REG E disputes stating that the "ATM" they used dispensed counterfeit currency. All of my usual contacts at peer banks and the ABA are extremely divided on whether these are REG E disputes or not. Just looking for more advice....
01/24/2011
There was a question in the Infovault about charging non-customers a fee for performing a cash advance when using a VISA credit card, which appears to be prohibited per VISA participation rules. However, would there be any issue with charging an ATM surcharge to all non-customers making cash advances at an ATM using a credit card (so long as an onscreen notice for the amount of the surcharge allowing the customer to cancel, was present)?
01/10/2011
If our ATMs are in offline mode (ATM is able to perform transactions but is not communicating with the host system), the customer's opt-in selection is not available to the ATM. The customer's withdrawal transaction is completed using an offline transaction limit assigned to the card. This means that a transaction could be completed even if there are insufficient funds in the account. If the customer did not opt-in and does not have enough money in the account, the transaction will be completed anyway. We don't charge the OD fee if the transaction posts and actually results in an overdraft, but we essentially have not honored the customer's opt-in choice. How is everyone else handling this when a customer complains he was allowed to overdraw?
11/29/2010
It seems the proposals as to what fee disclosures should be on an ATM have been going on forever. At one time they stated we had to disclose this by sign on the machine and on the screen. At some point they said the fee amount needed to be disclosed in the notice. The final regulation reads like the disclosure could be on the machine or on the screen. There is no mention of disclosing the fee amount for foreign transactions. Can I assume we only need to post the notice on either the screen or a sign on the machine now, and can I assume we do not have to post the fee amount?
10/25/2010
We have a customer who submitted a Reg E claim for unauthorized ATM withdrawals. She believes her son did this. The son was prosecuted last year for residential burglary. The customer claims that she went on vacation and her card and PIN were stolen from her safe. She also stated that she left a list (alarm codes, combo for the safe, etc), for her husband who didn't lock it. Obviously, it wasn't hard for the son to get into the safe. The amount of loss is $2555.00. Isn't there anything in Reg E for contributory negligence?
09/27/2010
Relative to charges for overdrafts caused by ATM or POS transactions, when a customer has opted out, when counting the consecutive days overdrawn, must we look at all ATM/POS transactions back to the reg implementation date or do we just exempt the ATM/POS transactions that caused the current overdraft?