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#1783845 - 02/07/13 07:05 PM E-Statements required with Online Banking?
SusyG Offline
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Joined: Oct 2001
Posts: 120
Are any of your banks requiring E-Statement enrollment with online banking? If so, what was the customer response when implemented? Complaints? Service Issues?

Thanks!

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eBanking / Technology
#1783954 - 02/07/13 09:30 PM Re: E-Statements required with Online Banking? SusyG
ahkcompliance Offline
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Joined: Sep 2008
Posts: 2,470
Midwest
We do not require e-statements with the online banking enrollment. Last year, we did a big e-statement push trying to encourage customers to sign up for e-statements. One of the things we did was put a screen when the customers first logs in telling them about e-statements and to learn more following the link. The link then took them to the e-statement enrollment page. We had a pretty good response from that.

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#1783973 - 02/07/13 09:57 PM Re: E-Statements required with Online Banking? SusyG
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 10,056
Toano, VA
Originally Posted By: SusyG
requiring E-Statement enrollment with online banking
Would this be limited to future online banking sign-ups, or do you want to change the terms of service for existing online banking customers?
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#1784095 - 02/08/13 02:43 PM Re: E-Statements required with Online Banking? SusyG
SusyG Offline
100 Club
Joined: Oct 2001
Posts: 120
We are exploring both avenues. Sr. Mgmt seems to think that most banks require e-statements with online banking. I don't see that being the case so I wanted to get feedback from other banks as to what they are doing. We do require customers to choose between print and E-Statements. They can't have both.

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#1784175 - 02/08/13 03:55 PM Re: E-Statements required with Online Banking? SusyG
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 10,056
Toano, VA
You can incent existing account holders to go tree-free, but your ESIGN "license" is conditioned on the customer retaining an option to continue the existing (paper) delivery method. Unless you have a valid ESIGN consent, nothing you e-deliver counts as being "in writing." If the Reg E and DD disclosures in your statements aren't "in writing", then you have systemic violations of those regs.

In the future, you can revise your online banking agreement and condition this service on e-delivery. Customers who demand paper will not be forced into e-delivery, but at the cost of losing their option to sign up for online banking service. It's up to you to decide whether compulsory e-delivery is a good business decision.
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