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#2054418 - 12/16/15 04:18 PM Charge for Lost Debit Card
ElectronicUser Offline
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We're reviewing our fee structure and in particular, the current lost debit card reissue fee. With the switch to EMV and the higher production costs associated with that, what are financials charging for a lost debit card? Have you increased the fee due to EMV? Thanks!

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#2054448 - 12/16/15 05:18 PM Re: Charge for Lost Debit Card ElectronicUser
burke116 Offline
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We don't charge

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#2054497 - 12/16/15 07:00 PM Re: Charge for Lost Debit Card ElectronicUser
Complycated Offline
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We currently charge $10.00 but have just started discussing possibly raising it due to EMV.

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#2054501 - 12/16/15 07:21 PM Re: Charge for Lost Debit Card ElectronicUser
Skittles Offline
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We do not have EMV and charge a $5.00 replacement fee. Ours are created on-site.
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#2054554 - 12/16/15 09:18 PM Re: Charge for Lost Debit Card ElectronicUser
WIBanker91 Offline
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We are looking at increasing our fee from $5. I am debating as to whether this needs to be disclosed ahead under Reg DD. It is optional to replace it and not directly related to a deposit or withdrawal fee.

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#2054687 - 12/17/15 03:27 PM Re: Charge for Lost Debit Card ElectronicUser
ahkcompliance Offline
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Midwest
We charge $10 for a replacement card to be ordered.

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#2054826 - 12/17/15 08:54 PM Re: Charge for Lost Debit Card ElectronicUser
ElectronicUser Offline
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Thanks everyone! We currently charge $10 but waive the first lost card. The consideration was to raise it higher and we've heard one financial has it at $20. We'll probably leave ours at $10.

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#2054845 - 12/17/15 09:18 PM Re: Charge for Lost Debit Card ElectronicUser
Elwood P. Dowd Offline
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It's implied in several responses, but the fee is not for "losing" the card as the subject line would suggest, it's for providing the replacement. It just sounds better. grin
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#2058292 - 01/13/16 02:20 PM Re: Charge for Lost Debit Card ElectronicUser
P*Q Offline

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Do we have anti-trust issues with this thread?? Even though a specific bank is not mentioned?

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#2058295 - 01/13/16 02:22 PM Re: Charge for Lost Debit Card ElectronicUser
rlcarey Online
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Yes - it does present such issues and it is also probably a violation of OCC regulations if any of the participants are National Banks.
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#2058296 - 01/13/16 02:22 PM Re: Charge for Lost Debit Card WIBanker91
John Burnett Offline
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Originally Posted By WIBanker91
We are looking at increasing our fee from $5. I am debating as to whether this needs to be disclosed ahead under Reg DD. It is optional to replace it and not directly related to a deposit or withdrawal fee.
It's not a fee that is covered by Reg DD. It could be considered a fee covered by Reg E, though.
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#2082927 - 06/10/16 04:23 PM Re: Charge for Lost Debit Card ElectronicUser
terpsfan Offline
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Why would it not be covered by Reg DD?

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#2082983 - 06/10/16 06:37 PM Re: Charge for Lost Debit Card ElectronicUser
John Burnett Offline
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I don't think it's a fee imposed in connection with the account. I'd agree, though, that it's fee under Reg E that relates to the access device. You'd need to provide 21 days' advance notice of the change.
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