I disputed a debit card transaction charge (there was a duplicate charge). I keep getting told it can take up to ninety days to investigate, however the account disclosure says forty-five days. The charge was not pin-based, our account is past the being new stage (thirty days) and the charge was here, locally. Am I wrong in thinking it should still be forty-five days?
Regulation E does allow an error investigation into a point of sale debit card transaction (PIN- or signature-based) to take up to ninety days. However, unless the bank has disclosed this possibility to you at or after the opening of your account, it cannot take more than forty-five days. It's possible that your bank sent you a notice that this part of their disclosures was being changed; it possible that they have not done so.
Regardless of how long the investigation can take, the bank is supposed to complete it promptly. In many cases, the bank will provide provisional credit within ten days of when a claim is entered, and then adjust that credit when the investigation is completed.
A simple duplicate charge case should not take long to verify at all. Contact the bank and ask them to "light a fire" under the department that's handling your claim.
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Regulation E does allow an error investigation into a point of sale debit card transaction (PIN- or signature-based) to take up to ninety days. However, unless the bank has disclosed this possibility to you at or after the opening of your account, it cannot take more than forty-five days. It's possible that your bank sent you a notice that this part of their disclosures was being changed; it possible that they have not done so.