Visa confirms Coinbase wasn’t at fault for overcharging users

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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