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#2164359 - 02/13/18 09:58 PM New Debit Card POS Limit
Bankwoman1 Offline
Platinum Poster
Joined: Dec 2015
Posts: 926
Midwest
If we are changing our debit card POS limit from $200 to $500, do we need to notify all cardholders of the change? There are mixed feelings here at the bank since it's not a negative to the customer.

Thanks

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eBanking / Technology
#2164418 - 02/14/18 02:49 PM Re: New Debit Card POS Limit Bankwoman1
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,959
Galveston, TX
One could argue that such a move may have the potential to increase the consumer's liability. Also:

3. Limitations on transfers. When the initial disclosures omit details about limitations because secrecy is essential to the security of the account or system, a subsequent increase in those limitations need not be disclosed if secrecy is still essential.

You don't say these limitations were ever secret.

Plus why bother to increase the limits and not tell anyone?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2164442 - 02/14/18 03:32 PM Re: New Debit Card POS Limit Bankwoman1
Bankwoman1 Offline
Platinum Poster
Joined: Dec 2015
Posts: 926
Midwest
No - these limitations were never secret. And I agree with you Randy - why increase the limits but not inform the customer. My thinking is this would definitely affect the customers decisions in spending, so we should notify them.

Thanks for your input!!
Lisa

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