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#2027512 - 07/16/15 04:01 PM Returned Statments
Banker Kathy Offline
100 Club
Joined: Apr 2010
Posts: 103
We have many statements that are returned because of a bad address or the customer has moved etc. We have procedures that we follow regarding returned mail. We do put a "do not mail" hold on the account, after 6 months, but the statements still get generated and come to the bank. Are we allowed to change the account to e-statements if we have had 3 months of statements returned and no response from repeated efforts to reach the customer. Eventually the monies will get turned over to the state but in the meantime we would like to stop the statements. Thanks

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#2027559 - 07/16/15 05:35 PM Re: Returned Statments Banker Kathy
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
There is no rationale for converting an account to e-statements when a paper statement has been returned. Just stop generating the paper statements and begin an effort to track the customer down now, not when the time for escheat is nigh.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#2027627 - 07/16/15 07:28 PM Re: Returned Statments Banker Kathy
SeekingKnowledge Offline
100 Club
SeekingKnowledge
Joined: Jun 2014
Posts: 152
SC

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#2027630 - 07/16/15 07:30 PM Re: Returned Statments Banker Kathy
Skittles Offline
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
If you want to find the customer and they have a debit card - temporarily turn it off. You'll hear from them.
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#2027718 - 07/16/15 08:56 PM Re: Returned Statments Banker Kathy
P*Q Offline

Power Poster
P*Q
Joined: May 2001
Posts: 8,458
Somewhere
HA! We do that all the time when folks don't call us back when we call them because of potential debit fraud alerts. They call back within minutes!

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#2029043 - 07/22/15 08:50 PM Re: Returned Statments Banker Kathy
Banker Kathy Offline
100 Club
Joined: Apr 2010
Posts: 103
Thanks for your responses!!

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