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A comment on Visa confirms Coinbase wasn’t at fault for overcharging users. Parent comment

Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by notyourday on Sunday February 18, 2018 @12:02PM (#16406928)
Reg CC trumps developer perspective.

Bank can revert ACH in case of a book keeping error (there was no ACH).

It can revert ACH in case of a fraud (someone at the bank committed fraud). ACH was not originated by the customer.

It can revert ACH in if it gets a court order.

It cannot revert ACH because Sally did "oops".

Source: SVP of compliance of a very large bank sitting next to me.

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Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by jsjohnst on Sunday February 18, 2018 @12:15PM (#16406996)
The person sitting next to you is over simplifying things then. There are far more reasons that an ACH can be reverted.

> It cannot revert ACH because Sally did "oops".

Quite a few of the defined ACH return codes[0] seem to be loosely in the “oops” you said wasn’t possible.

[0] https://gusto.com/ach_return_codes

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Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by notyourday on Monday February 19, 2018 @03:27PM (#16415456)
That would be possible as

a) first response b) bank-to-bank journaling based on the bank to bank agreement.

But dont look at me - just try doing it and see how successful you would be.

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Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by jsjohnst on Tuesday February 20, 2018 @07:22AM (#16419787)
I’ve issued stop payments on ACH transactions multiple times with success, so yes, it’s definitely possible to cause an ACH return.
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Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by notyourday on Tuesday February 20, 2018 @09:16AM (#16420413)
Have you noticed that by doing that you have indemnified your bank?
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Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by jsjohnst on Tuesday February 20, 2018 @07:29PM (#16425696)
Sure, but that doesn’t change my point. What about closed accounts, invalid account numbers, or NSF? All three of those cause ACH rejects/reverts without any indemnity, yet weren’t in your list.
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Re:Visa confirms Coinbase wasn’t at fault for overcharging u... by notyourday on Wednesday February 21, 2018 @10:52AM (#16430300)
Those show up nearly immediately.
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