07/28/2008
I process Visa and MasterCard chargebacks for several financial institutions and I am currently working on a case where the financial institution is not wanting to provide the cardholder provisional credit. The cardholder was making several auto fuel purchases in Florida and was called around the same time to verify transactions on her account. No one knows exactly what was said to verify the charges, but the cardholder agreed the gas charges were hers. Unknowingly to the cardholder there was actually counterfeit activity going on at gas stations in Massachusetts, so after her card was unblocked the fraud continued to happen. The financial institution has decided since the cardholder agreed that the original charges were valid and the card was unblocked for more counterfeit transactions to post, they will not be giving the cardholder credit because the fraud alert company tried to stop a further loss, but the cardholder insisted it wasn't fraud. Since I am the fraud processor, the cardholder keeps calling me because she wants this to be taken care of ASAP. She is out hundreds of dollars, but the financial institution is not budging on giving her credit because it's going to be a loss to them due to the card being counterfeit. Please give me some advice on this issue. I think people can make mistakes and I think when [Name of Fraud Protection Co Withheld] called to verify charges it was an oversight of the cardholder due to her making the same type purchases in her home town and we can not guarantee [Name of Fraud Protection Co Withheld] told her it was out of state charges. The financial institution knows there was counterfeiting going on that weekend because they had at least five accounts affected for the same merchants and state. Is the financial institution required to give the cardholder credit?
10/06/2003
We face new challenges everyday with respect to viruses, ongoing software patches and updates as well new technologies to integrate within our bank. All of these put a strain on our IT resources. How do other banks justify staffing requirements and handle peak demand times?
09/15/2003
I have many customers who have used their debit card for monthly debits such as to a satellite provider or Internet service provider. After they close their account, these transactions still try to hit. I have closed the debit cards and even hotcarded them but these companies still force the transactions through. When I dispute the transaction, the company says they will not honor the dispute without the cardholder's signature... yet most of the time we have closed the account due to negative balances. Is there any way around this? Can we not stop these companies from steadily forcing payments through closed accounts and cards?
04/07/2003
We are in the process of setting up the process that allows our customers to access their HELOCs via a Visa Card. The card is actually a debit card though - in that it first accesses the customer's DDA account. That particular DDA account is set up and used only for this process, and works in the following manner: The customer uses card that taps into a DDA account that has a zero balance. The account automatically advances the amount of the transaction into the DDA account. So the account is debited, shows a negative balance, which is then zeroed out by the auto transfer from the HELOC. My question is two fold: With this type of process is our card considered a 'credit card'? And if not, and it is considered an actual debit card, can we send cards to existing customers unsolicited?
09/16/2002
We are forming an affiliation with an insurance company to offer insurance to our banking customers. Some of the products they offer are workers compensation, business auto, commercial property, group health, life, etc. We will be adding an Insurance Products button on our web site. My question is what disclosures do we need to include on the page.