I'm sure many of you already do it, but we are just starting to look at address changes via online banking. I do not see any issues with this. The customer would be using their log on and password so that would be secure. Am I missing anything?

I'm hoping others with more experience will chime in. I would be leary of accepting the address change without some confirmation to the customer, either at the old address or the phone number we have on our books. The first thing that comes to my mind is that it might be a case of 'account takeover' where someone has hijacked their credentials.

We send a confirmation of address change letter to both the old and the new address. In case of account takeover, as Doug referred to, one of these letters should reach the real customer and they would be alerted to any problem.

Thanks!

We've experienced what Doug mentioned. About 7-8 years ago, our member used online banking on a public computer at a hotel with a key logger virus on it. "Someone" was able to then log in to the member's account and use the address change function to update all of the contact info. They then called in to request transfers, pretending to be our member, and all callbacks to the number of record wound up going to the person on the other end of the keylogger. Strong red flag procedures can help counter this, as well as verifying contact info changes at whatever the "old" contact is.

Same as califgirl, no issues to date.

We do ours a bit different. We don't have the ability to go through our online access, so we have a form on our website. This form requests account number, old address, new address, DL#/State, mother's maiden name, last four of social and a signature (digital signature pad on the website). Probably a bit of overkill, but we have had no problems.

Just wanted to throw out another option!