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#12250 - 01/16/01 04:16 PM Reg E and Stored Value Cards
Jan94 Offline
Platinum Poster
Joined: Mar 2001
Posts: 828
USA
My question has to do with periodic statements. Our holding company has a stored value product that is offered through the internet. We have been providing monthly electronic statements. However, in a POS situation is it still required to provide the statement monthly? We would rather do it quarterly if permitted. This is an area in which I know almost nothing, so I am not sure where to search. I have looked in Reg E and find that in 205.9(b) and (c) it refers to when periodic statements are required and what the exceptions are. A side question to this: is a stored value card looked at like a preauthorized transfer and could it meet the exception under 205.9(c)(1)(ii) which permits quarterly statements? Sorry for the long post....Thank you.

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eBanking / Technology
#12251 - 01/17/01 05:37 AM Re: Reg E and Stored Value Cards
Jan94 Offline
Platinum Poster
Joined: Mar 2001
Posts: 828
USA
Please disregard the above question. I'm getting bits and pieces of additional information, so it makes my initial question inapplicable. Thank you.

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