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#1114663 - 01/21/09 10:17 PM e-statements coming back, again and again
Trees Offline
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How do you handle e-statements that are returned over and over again. Currently, we will call customer and get the explanation. often they have changed e-mail address, etc. But, we also have peeps that don't check their e-mail for months on end (and who really checks their statement carefully every month as soon as its received...). I would like to know how you handle the serial undeliverables. Do you keep a log...do we have to take action each and every time??

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eBanking / Technology
#1114675 - 01/21/09 10:23 PM Re: e-statements coming back, again and again Trees
BrendaC Offline
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BrendaC
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Sweet Home AL
I believe you have to have procedures in place to revert back to paper statements if you can't obtain a new e-mail address for the customer. The process should be disclosed in your customer agreement.
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#1114732 - 01/21/09 11:27 PM Re: e-statements coming back, again and again BrendaC
Richard Insley Online
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Richard Insley
Joined: Oct 2000
Posts: 10,179
Toano, VA
Originally Posted By: BrendaC
I believe you have to have procedures in place to revert back to paper statements

Not unless you've contracted for that means of handling bouncebacks. The e-Regs which used to require bounceback monitoring are gone. It's up to you and the customer. And don't forget--the whole idea behind e-delivery was to save money. You can't save anything if you're paying salaries to handle bouncebacks.

I've seen various ways of handling this problem, but the best is to set up two-tier pricing. Customers who elect paper statements pay a fee and customers who elect e-delivery don't pay a fee (or some variation on this pricing theme.) Included in the rules for free delivery is a condition, however, that the account automatically goes to paper delivery and the fees begin as soon as you experience a single bounceback. Customers would be able to request return to e-delivery and elimination of the fee if they provide a new EMA that checks out.
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#1115092 - 01/22/09 05:08 PM Re: e-statements coming back, again and again Richard Insley
Trees Offline
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Joined: Apr 2005
Posts: 4,013
hey! When did the bounceback monitoring e-reg go away??? Is it in writing someplace so I can reference it when I tell peeps to stop agonizing over this highly administrative process????

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#1117885 - 01/28/09 02:29 PM Re: e-statements coming back, again and again Trees
John Burnett Offline
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John Burnett
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Cape Cod
The regs were updated way back on 11/9/07, with an effective date of 12/10/07 and a mandatory compliance date of 10/1/08. You can find links to the Fed's amendments to Regulations B, E, M, Z and DD (all of them were changed) in the November 9 entry to our Top Stories page, at http://www.bankersonline.com/topstory/topstory_1107.html

In essense, the 11/07 changes rescinded the interim rules on e-delivery that the Fed never fully implemented.
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#1117936 - 01/28/09 03:24 PM Re: e-statements coming back, again and again John Burnett
Trees Offline
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Joined: Apr 2005
Posts: 4,013
Thank you.

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