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Referrals
Cash
Management > The
Visa® Check Card > Referrals
Referrals are a security measure put in place
to prevent fraudulent activity. When a merchant enters the card
number, a message will tell them to contact their Visa® center. They
should not call the number on the back of the card. The merchant's
Visa® center should, in turn, contact Bank One and the verification
process will begin. Verification consists of four basic questions.
- What is the address on record on the account?
- Does the cardholder have positive ID?
- What other names, if any, are on the account?
- What is the cardholder's mother's maiden name?
- If all of the questions are answered correctly,
the transaction will be approved.
There are several instances where a referral
will be generated. These are based on parameters set by Reich &
Tang.
Parameters
- If a client makes one single purchase of $3,000
or more, a referral will be generated.
- A referral will also be generated once a client
makes his/her sixth transaction of the day regardless of the amount.
A client will also be able to make as many transactions as needed,
provided there are sufficient funds. The referral is simply verification
that the person using the card is indeed the cardholder.
- Several smaller transactions that add up to
$3,000 will cause a referral response as well.
Holiday Parameters
Late November through early January each year.
- If a client makes one single purchase of $4,000
or more, a referral will be generated.
- A referral will also be generated once a client
makes his/her eleventh transaction of the day regardless of the
amount. A client will also be able to make as many transactions
as needed, provided there are sufficient funds. The referral is
simple verification that the person using the card is indeed the
cardholder.
- Several smaller transactions that add up to
$4,000 will cause a referral response as well
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Financial
Member NASD/SIPC
Courtesy of Regal Discount Securities, Inc.
The information on this website is for discussion
and information purposes only. All accounts accepted at the discretion
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