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#702854 - 03/19/07 03:00 PM On-line deposit statements
Gardenlady Offline
New Poster
Joined: Feb 2007
Posts: 15
NY, USA
Are there any specific regulatory requiments or suggested wording for the notice to customers who chose to opt-out of receiving an online monthly statment?

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eBanking / Technology
#703179 - 03/19/07 07:28 PM Re: On-line deposit statements Gardenlady
tomlokey Offline
New Poster
tomlokey
Joined: Jan 2003
Posts: 10
Florida
Where statements are required by regulation, customers must opt-in under eSign to receive them electronically rather than by paper/mail. You can't just make online statements available and turn off the paper without meeting eSign requirements. That being said, you can offer certain products that only offer electronic statements, provided you make all the disclosures and the customer agrees. If you're not making statements available online under eSign and continue to provide paper statements, then the online documents are "information only" and there are no regulatory requirements for opt-out.

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