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Looks like I'm right: http://www.thesunchronicle.com/articles/2010/07/04/news/7630...

AVS checks zip code and/or the number portion of your street address depending on how you interpret the response.

CVV2 check obviously works as intended. And our experience has been that when CVV2 is checked, sometimes the expiration date will be checked (although w/o CVV2 check expiration date is similarly meaningless).

I'm far from an expert here, so somebody else can probably clarify a bit more.




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