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#1629871 - 11/17/11 07:36 PM Deletion of Online Banking Accounts
SusanO Offline
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We have been analyzing procedures and processes for Online Banking and Mobile Banking. Specifically we are reviewing the number of days of inactivity before an Online or Mobile Banking account is deleted from the system. What is the risk in allowing these accounts to remain open?

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eBanking / Technology
#1630056 - 11/18/11 12:17 AM Re: Deletion of Online Banking Accounts SusanO
Andy_Z Offline
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Like any dormant/inactive account there is a chance of abuse because of its status. Otherwise nothing comes to mind that is a particular risk because of the e-access.
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#1630066 - 11/18/11 02:09 AM Re: Deletion of Online Banking Accounts Andy_Z
rlcarey Online
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"Specifically we are reviewing the number of days of inactivity before an Online or Mobile Banking account is deleted from the system. What is the risk in allowing these accounts to remain open?"

Make sure you review what your on-line or mobile banking agreements say about cancelling accounts. You don't want to be cancelling these agreements without proper notice or in accordance with your contracts.
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#1630955 - 11/21/11 06:15 PM Re: Deletion of Online Banking Accounts rlcarey
Andy_Z Offline
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Good point Randy.

I know many banks pay vendors based on accounts enrolled and they like to purge non-users. That period that warrants the boot should be in your agreement, and monitored.

For bankers doing this, what period of inactivity do you allow?
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AndyZ CRCM
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Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#1631164 - 11/22/11 12:00 AM Re: Deletion of Online Banking Accounts Andy_Z
'Lil Freak! Offline
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"We reserve the right to terminate your Online Banking and/or Bill Pay services if you fail to use the service for more than 90 consecutive calendar days."
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#1631489 - 11/22/11 06:35 PM Re: Deletion of Online Banking Accounts 'Lil Freak!
Andy_Z Offline
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That is logical to me. There is no reason for the bank to accept risk when there is no intent of use.
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#1631742 - 11/22/11 11:54 PM Re: Deletion of Online Banking Accounts Andy_Z
Deputy Dawn Offline
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If you are just removing online access but still maintaining an actual account, make sure that you provide them with paper statements if they previously were receiving statements through their online banking.

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#1712606 - 06/20/12 09:10 PM Re: Deletion of Online Banking Accounts SusanO
Always In Training Offline
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Excuse me for the resurrection of this topic, but our system doesn't really delete the online account, just makes it inactive, we still maintain the account.

Do we need to convert these customers to paper statements once they go inactive online?

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