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November 16, 2009



What is the definition of one-time debit card transaction

Anthony Demangone

You know, it isn't clearly defined. But they do contrast it against recurring transactions. So, I would think that a purchase (a one-time transaction) is covered. But if I give my debit card to my cable company to pay my monthly cable bill, that would not be covered. That's my take - I'm curious if others view this the same way.


Is there a distinction here between a Signature based purchase versus a PIN based purchase?

Our institution only uses overdrafting (overdraw w/ a fee) if a PIN was used.

POS is typically PIN Based transactions, while Signature based transactions are called Signature Debit.


Anthony Demangone

I do not see any distinction within the final rule between signature and PIN based debit card transactions. The rule places the same limitations on both types, as I read it.

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