Banking 101
It encompasses a broad range of businesses that provides financial services.
What is financial industry?
They obtains a credit or debit card from an issuing bank and uses the account to pay for goods or services.
What is cardholder, consumer or card member?
A situation in which a customer questions the validity of a transaction that was registered to the account.
What is disputes?
Refers to return of funds to a consumer or cardholder or a reversal of the dollar value, in whole or in part, of a particular transaction.
What is CB or chargeback?
Ja is calling to file a dispute for a transaction she made on October 15th. Her first funding date was September 15th. What should be the time frame for PVC?
What is 20 business days?
A re-loadable payment card that can be used to shop online or at a store, transfer money, pay bills and withdraw cash from ATMs.
What is prepaid debit card?
Contract with merchants to create and maintain accounts that allow the business to accept credit and debit cards.
What is Acquiring Bank or Merchant's Bank?
A transaction submitted through interchange to correct an out-of-balance situation identified during settlement or the terminal balancing process.
What is adjustment?
The cardholder authorized a specific amount and the merchant settled for an amount higher than previously agreed.
What is Amount Discrepancy?
In filing a dispute for multiple transactions with 1 ATM, how many days should be the overall time frame?
What is 45 calendar days?
The four stages of obtaining a prepaid debit card.
What are obtain, activate, fund, and use?
The bank that provides the customer with his or her credit card.
What is Issuer or Issuing Bank?
A risk management tool which helps reduce the unknowing acceptance of fraudulent mail and telephone order transactions by facilitating verification of cardholder billing address with the card issuer.
What is AVS or Address Verification Service?
Cardholder billed more for a single transaction or merchant created two or more transaction receipts for a single transaction.
What is Duplicate Charge?
There are multiple transactions the cardholder is disputing. The oldest transaction falls within 30 days and the rest are after 30 days. Should it be an Old Account?
What is False?
It empower the consumer to load the cards at their own convenience through any means available to the product.
What is GPR?
Transactions that consist of buying and selling of products or services over electronic systems such as the Internet, mobile apps, and conversational commerce via live chat, chat bots, and voice assistants.
What is card absent or online transactions?
A code designating the principal trade, profession or line of business in which merchant is engage.
What is MCC or Merchant Category Code.
Cardholder tried to withdraw cash from an ATM and did not get the part of entire amount . This may be due to an error on the ATM itself or the Bank owner of the ATM.
What is ATM Non/Mis-dispensed.
"Dave Inc. took $85.23 out of my account and I have not set up anything like this. Can you please help me?" Claim was created on February 23, 2020. If transaction happened last November 18th, should it be a PTF Claim?
What is True?
Provide two examples of a GPR card.
What are health cards, incentive cards, payroll cards, gift cards, and travel cards.
The process by which a merchant will receive funds from a customer for a transaction that has been made.
What is settlement?
A temporary credit which may be applied to the cardholder’s account in situations in which a transaction is being disputed.
What is PVC or Provisional Credit?
This is where cardholder initially tendered his card as payment for the transaction, but then decided to use cash, check or other card for paying the transaction.
What is Paid By Other Means?
On March 20th, Edmar notified, "Lyft charged me $18.00 last February 26th. They said it should have been refunded." Claim was created on the same date. Is this claim eligible for PVC?
What is True?