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#1223699 - 07/28/09 09:15 PM New Accounts and Debit Cards
txgal, CRCM Offline
Junior Member
Joined: Jul 2006
Posts: 46
Is there any type of compliance violation for having a new account customer wait 60 days befor ordering a debit card?

Our current policy makes the customer wait 60 days after the account open to have a debit/ATM card.

Does anyone have a better procedure/policy?


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Operations Compliance
#1223750 - 07/28/09 11:20 PM Re: New Accounts and Debit Cards txgal, CRCM
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Nope. Access cards are a privledge, not a right.
I don't repeat gossip, so listen closely...

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#1223830 - 07/29/09 01:08 PM Re: New Accounts and Debit Cards txgal, CRCM
YoungAndEager Offline
100 Club
Joined: Apr 2009
Posts: 135
We order debit cards immediately, but any overdrafts will not be honored for the first 30 days (debit card purchases would be denied).

I would feel shafted if I were switching banks and I had to wait 60 days, plus I had to wait for it to be shipped to me.
"...muffins are just bald cupcakes." -- Jim Gaffigan

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#1224094 - 07/29/09 04:23 PM Re: New Accounts and Debit Cards YoungAndEager
P*Q Offline

Power Poster
Joined: May 2001
Posts: 8,458
No regulation I know of but not very customer friendly. I wouldn't bank where I had to wait 60 days. Heck, just opened a new account and got the card at the time of account opening, they made them in the branch.

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#1231112 - 08/11/09 07:24 PM Re: New Accounts and Debit Cards P*Q
EdieT Offline
Joined: May 2009
Posts: 76
We will only issue the card when the account has a $50.00 balance. Of course, once the card is opened, we no longer monitor the acct to see if they keep the balance.

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#1231822 - 08/12/09 09:30 PM Re: New Accounts and Debit Cards EdieT
C_Groat Offline
Joined: Mar 2006
Posts: 70
Salt Lake City, UT
Losing a lot of opportunities to make increased Interchange by not giving the card for 60 days. We want the new customer to have their new debit card as soon as possible, there is always the possibility of someone commiting some new acount fraud on the front end, but we make a lot more than what we lose through legit usage of the plastic.

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