What is a provisional credit?

What is a provisional credit?

A provisional credit is a temporary credit that may be applied to your account during your dispute investigation if we aren’t able to reach a decision within 10 business days (20 business days for new accounts). You can expect this credit to be issued by the end of the 10th business day (20th business day for new accounts).

Dispute types under Regulation E are eligible for a provisional credit. This regulation covers both authorized and unauthorized electronic fund transfers at places like ATMs, point-of-sale transactions, or automated clearing house (ACH) systems. In addition, all disputable Pay Friends transfers are eligible for provisional credit.

What do I need to do to be eligible for a provisional credit?

To be eligible for a provisional credit, you are required to submit a written statement within the 10th business day. Examples of a written statement are: dispute form, picture of a hand written statement,chatbot message or an email.

When do I have to file my dispute in order to be eligible for a provisional credit?

A dispute must be filed no more than 60 days after the oldest statement date on which the unauthorized transaction(s) first appeared to be eligible for a provisional credit. You may file a dispute that is older than 60 days, but it will not be eligible for a provisional credit.

Why isn't my Credit Builder dispute eligible for a provisional credit?

The transactions on the Credit Builder card are credit card transactions, which are governed under Regulation Z and are ineligible for a provisional credit. However, you will not be required to pay the disputed transaction(s) that is part of the monthly statement if an investigation is still ongoing.

How long will it take to receive a provisional credit?

If you’re eligible, you can expect this credit by the end of the 10th business day (20th business day for new accounts) after filing your dispute.

Is there a way to receive a provisional credit earlier?

The investigation team works diligently to resolve disputes as quickly as possible. You’ll be notified via email associated with your account or you can check the status of your dispute on the Chime application to see if a provisional credit has been issued.

What happens if my dispute is denied? 

In the case where a dispute is denied and a provisional credit was issued to your account, it will be reversed 5 business days from the date of the denial letter. Please ensure that there are sufficient funds in your account to cover the amount that will be debited, as well as any purchases or payments you plan to make. If you do not have sufficient funds in your account to cover the amount that will be debited, your account may be drawn negative.

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