Q: I have disputed a charge on my debit card, they will not refund my money until the investigation is complete. I feel as though they should let me have my money until they complete their investigation. Am I correct?
A: If you have a dispute over something you bought with the card, that’s not covered under federal law. If you are disputing an error or unauthorized use, however, that is covered under the Electronic Funds Transfer Act. Under that law, the issuer has 10 business days to investigate and get back to you with the results of their investigation. Once they determine there is an error (or unauthorized use) they must credit your account immediately. If the investigation takes longer than 10 business days, they must provisionally credit your account until it’s completed. VISA and MasterCard both encourage issuers to credit accounts for unauthorized use even more quickly.
