Verfied by Visa finally gets outed

Nicholas Bohm nbohm at
Thu Oct 21 17:26:05 BST 2010

On 20/10/2010 12:16, James Firth wrote:
>>> Regulation 61 of the Payment Services Regulations 2009:
>>> (see: lawyers are some use 8-).
>> It's worth noting that this makes no material change to the law as it
>> stood before.  But it may still help, as the FSA seems to think it's
>> reflects a change, and perhaps some banks think the same.  And it gives
>> the customer something easy to point to.
> I thought it did - since it gives similar legal protection to debit card
> transaction as credit card transactions?

I cannot see anything in it that has that effect.

> My understanding is that previously debit card transactions were protected
> only by the Banking Code, whereas credit card transactions protected by the
> Consumer Credit Act 1974.

That remains the case (except, as I understand it, where a debit card
transaction creates or enlarges an overdraft).

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