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#1153095 - 03/27/09 06:49 PM UNDELIVERABLE MAIL - What do you do?
Jenn-Lynn Offline
Member
Joined: Aug 2006
Posts: 95
Oklahoma
What do you do with mail that is returned from the Post Office as undeliverable?

Do you keep sending the mail to the old address anyway?

Do you change the address (if provided a new one by the Post Office) based on the Post Office's information?

Or do you just hold all mail until contacted by the customer.

We are getting approx. 2,000 pieces of mail back per WEEK. We'd like to see what other banks are doing and if there is any regulatory guidance concerning this issue. (I couldn't really find anything).

Your feedback is very much appreciated. Have a great day.

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#1154098 - 03/30/09 08:53 PM Re: UNDELIVERABLE MAIL - What do you do? Jenn-Lynn
Kitty Offline
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Kitty
Joined: Mar 2001
Posts: 236
We log all undeliverable mail in our system. We change the status of the account to no mail. Statements are still produced and are available in our report archive but are not printed and mailed to the customer.

If the returned mail contains a forwarding address we send a letter to the customer requesting that they update the they have on their accounts.

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#1154185 - 03/30/09 09:38 PM Re: UNDELIVERABLE MAIL - What do you do? Kitty
Jenn-Lynn Offline
Member
Joined: Aug 2006
Posts: 95
Oklahoma
Thanks, those are good ideas.


Does anyone do something else?

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#1154324 - 03/31/09 11:34 AM Re: UNDELIVERABLE MAIL - What do you do? Jenn-Lynn
Rocky P Offline
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Joined: Jun 2003
Posts: 7,423
Florida
Jenn-Lynn, you may also want to check the state's eschetement laws for the states where the account holders are domiciled. I believe that the returned mail may start the loss of contact provisions in some states.
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#1155044 - 03/31/09 09:30 PM Re: UNDELIVERABLE MAIL - What do you do? Rocky P
Jenn-Lynn Offline
Member
Joined: Aug 2006
Posts: 95
Oklahoma
Good point. I hadn't thought about that.

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#1155221 - 04/01/09 12:30 PM Re: UNDELIVERABLE MAIL - What do you do? Jenn-Lynn
Fraudman CFCI Offline
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Fraudman CFCI
Joined: Apr 2004
Posts: 3,189
Land of Steady Habits
This issue should be addressed in your Red Flags Program, too. Definitely flag the account with bad address status. You need to check to see if there is ongoing activity and if it is fraud. If you do not currently subscribe to Accurint, I suggest you consider it. www.accurint.com

I have located many people with this service.

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#1156303 - 04/02/09 01:30 PM Re: UNDELIVERABLE MAIL - What do you do? Fraudman CFCI
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,534
Pulling people out of the ditc...
following hurricane Katrine, when half of Louisiana seemed to have moved, we were recieving over 6,000 return envelopes per day! We would flag each customer in our Fidelity system so that if they came in to a branch to make a deposit, we would ask for their new address. This caught only a small amount, and we finally subscribed to a system the post office had where they would attempt to forward if they had a new address on file. it was not cheap, I think it was $.75 for each forward. Took us about 1 1/2 years to clean this mess up.
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#1156782 - 04/02/09 06:55 PM Re: UNDELIVERABLE MAIL - What do you do? HappyGilmore
Jokerman Offline
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Joined: Nov 2003
Posts: 12,846
Address forwarding and correction is fairly common, but to answer the question about whether anyone does anything else - I think a key thing to determine is whether you need additional controls over the account, similar to those you would put in place for a dormant account.

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#1157133 - 04/03/09 01:49 PM Re: UNDELIVERABLE MAIL - What do you do? Jokerman
Jenn-Lynn Offline
Member
Joined: Aug 2006
Posts: 95
Oklahoma
Thanks to everyone, you have given me lots of viewpoints that I hadn't thought about.

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#1157853 - 04/03/09 10:20 PM Re: UNDELIVERABLE MAIL - What do you do? Jenn-Lynn
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,502
On the Net
You can also allow for a fee, properly disclosed, for the now "hold statement" status on the account.

Remember that your deposit agreement should require that they keep you updated on their address. If they don't that could be a problem.
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#1168801 - 04/23/09 03:14 PM Re: UNDELIVERABLE MAIL - What do you do? Andy_Z
mbernard Offline
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Joined: Jul 2008
Posts: 109
On a related note, if we get returned mail and know the address is bad, can we stop sending statements, notices, etc until the account has been updated? Right now we have a warning on the account so the frontline staff can get the information when the member comes in. We are working on an address verification system through Home Banking right now.

Any thoughts? I just want to be clear...thanks!

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#1168812 - 04/23/09 03:19 PM Re: UNDELIVERABLE MAIL - What do you do? mbernard
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
As long as you can re-create the information this should be acceptable. I can't see any benefit from continuing to send mail to an address the bank knows is bad.
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#1177836 - 05/07/09 03:04 PM Re: UNDELIVERABLE MAIL - What do you do? Skittles
Funky Falcon Offline
100 Club
Joined: Jan 2008
Posts: 242
Minnesota
If the customer's mail is undeliverable, and we have been retaining either the paper copy or electronic copy of the statement, do we have to re-attempt to send a statement if a Reg. E transaction occurs during the month?

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#1177870 - 05/07/09 03:18 PM Re: UNDELIVERABLE MAIL - What do you do? Jenn-Lynn
shoeinge Offline
New Poster
Joined: Sep 2006
Posts: 18
We do the same thing as Kitty.

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#1178533 - 05/07/09 08:42 PM Re: UNDELIVERABLE MAIL - What do you do? shoeinge
EdieT Offline
Member
EdieT
Joined: May 2009
Posts: 76
PA
After 1 returned statement, we place a message on the account so the branch can update the address if the client comes in. After 6 mos of returned mail, we place a hold allowing no debits & close the ATM card, so that if any of the returned mail has fallen into the wrong hands we can prevent fraud. We also flag to stop statements from being mailed. Our accts in PA escheat in 5 years of inactivity.
Hope this helps.

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#1417083 - 07/19/10 09:14 PM Re: UNDELIVERABLE MAIL - What do you do? EdieT
morirse de risa Offline
100 Club
Joined: Feb 2009
Posts: 238
Midwest
If the customer's mail is undeliverable, and we have been retaining either the paper copy or electronic copy of the statement, do we have to re-attempt to send a statement if a Reg. E transaction occurs during the month?

Just wondering how those of you who shut off printing after so many returned statements are doing this.

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