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#704120 - 03/21/07 03:07 PM online accts - and electronic signature
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
originally we thought we would open accounts online but then send out a sign. card to obtain a "wet" signature. Now we are thinking about accepting an electronic signature 9I am so throlled!). Is anyone offering online acct opening doing this? I would like to know what special disclosure we need to provide that signififes to the customer that their click on a button represents a signature. How are you reducing the possibility of fraud in this case? If you are doing this and regulators have been by to visit, did they have any recommendations, etc?

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eBanking / Technology
#707205 - 03/27/07 04:12 PM Re: online accts - and electronic signature Trees
Bankster Offline
Gold Star
Joined: Aug 2004
Posts: 440
Midwest
Are you going to actually open the account online? We are in the process of setting up loan applications online and we will require the applicant(s) to close in person.
Last edited by Bankster; 03/27/07 04:13 PM.
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#707226 - 03/27/07 04:23 PM Re: online accts - and electronic signature Bankster
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
Online account opening (deposit accts) with electronic signature. No signature cards going our for original signature.

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#707876 - 03/28/07 01:47 PM Re: online accts - and electronic signature Trees
Bankster Offline
Gold Star
Joined: Aug 2004
Posts: 440
Midwest
We haven't gotten to that point yet, just starting on the lending products!!
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#710291 - 04/03/07 12:45 PM Re: online accts - and electronic signature Trees
marketing101 Offline
New Poster
Joined: Aug 2006
Posts: 8
We are actually in the process of researching 4 different vendors to use for online account opening. Ideally we would like to have an e signature. We have formed some committees and everyone is looking into different things right now. I don't have an answer for you right now, but if you keep me updated, I'll do the same for you!!!

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#728215 - 05/08/07 04:04 PM Re: online accts - and electronic signature Bankster
LAR Offline
New Poster
Joined: Oct 2006
Posts: 9
We are currently reviewing our options as well. One of my initial concerns deals w/ FDIC insurance coverage. Sec. 330.9 states that for qualifying joint accounts, each co-owner must personally sign a deposit account signature card. I have not had an opportunity to review the E-Sign Act yet, but question whether this would be covered.

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