Hi All,

Our bank is looking into mobile banking for our customers and I have a few questions:

1) Would the E-Sign act apply to mobile banking??? If I give a notice or disclosure for mobile banking by texting the customer would E-Sign apply?
2) Instead of having a disclosure for our funds availability regarding mobile banking, Can I just put that information on the terms and conditions agreement or do I need s separate disclosure?
3) In my terms and conditions can I use generic terms to describe by daily or monthly limits? Example instead of saying $500 per day. I would say the bank has set limits for daily deposits..
4) Can a bank place holds on mobile banking items?

1) It certainly can if you are entering into agreements or making disclosures this way. Essentially, if you substitute federally required written documents for electronic disclosures, E-SIGN applies. Separate from federally required items, state required items may defer to UETA.

2) I don't recall Reg CC requiring separate disclosures. Verify that, but you should be able to combine it with others if necessary.

3) I would use a dollar amount for specific policies. That is also how I have seen others.

4) If it is according to your Reg CC policy.

If you are talking about allowing the deposit of images through mobile banking, Regulation CC will not apply and availability will be governed under your mobile banking contract.