Original publication date: October 12, 2020
Question:
We are testing an IAT transaction in the sandbox, and it only gives 4 minutes for the transaction to change from pending to processing.
Regulation E states that a customer can cancel a transaction within 30 minutes which is therefore what we require.
Is that a function of the sandbox or will that be the case in production too?
Answer:
That is a function of the sandbox. In production, the status change will take 30 minutes.