If a loan customer receives an electronic statement, it does not include a paymnet coupon. If the customer makes their payment by mail with a check, it requires extra processing time. We want to discourage e-statement customers from paying by check. I know we cannot require them to pay electronically under Reg E (correct?). But what if we cancelled their electronic statement if they pay by check - as a deterrent. Is that ok?
One of our checking accounts requires e-statements and pays an incentive for electronic transactions during the month. I've heard others say that if a customer in that account discontinues e-statements, we cannot discontinue the incentive payment, because opting out of e-statements cannot cause financial harm. Is that correct? If so, it would not make sense to discontinue e-statements in response to loan payments by check.
Do you know of any other acceptable ways to encourage e-statement customers to pay electronically as well? Thank you.