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#1799439 - 03/28/13 08:27 PM Debit card restriction
Dsalarey Offline
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Joined: Jul 2011
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We are considering introducing a new checking account product geared towards customers who may have had issues in the past perhaps with chexsystems and etc; are there any regulatory requirements that would not allow for restriction of debit card capabilites?

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#1799466 - 03/28/13 09:10 PM Re: Debit card restriction Dsalarey
John Burnett Online
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John Burnett
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Cape Cod
You could establish lower daily cash and spending limits for cards attached to such accounts. You'd have to disclose those tighter restrictions to the customers, but I don't see a regulatory problem. Are there any particular types of limits you're thinking about?
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#1799482 - 03/28/13 09:53 PM Re: Debit card restriction Dsalarey
Dsalarey Offline
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Joined: Jul 2011
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We are considering not offering a debit card to these customers.

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#1799517 - 03/29/13 12:03 PM Re: Debit card restriction Dsalarey
Skittles Offline
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Skittles
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TN
Dsalarey - there is no Federal regulation preventing you from not offering debit cards on these accounts. You might want to verify with your state laws, though.
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