Question & Answer

Question: I read with considerable interest your Q & A page in Vol VII, No. 6-in particular the first answer, in which you said, "... if the transfer is made by telephone, by e-mail or electronically (e.g. by PC) ... that transfer counts as one of the six transfers permitted monthly. We just started PC banking. Do you mean to tell me that every time a customer makes a transfer on the PC, it counts as one of the six under Reg D? How are we supposed to track that?!

Answer: Sorry! At the moment, until it may be changed, that's just what that means. As for your last question, I'm afraid I don't have an answer to that, but I'm sure some vendor is working on it!

Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 8, 7/97