The prepayment disclosure may be sent electronically without implicating the E-SIGN Act if, and only if, the sender electronically requests the remittance transfer provider to send a remittance transfer. But, unless the E-SIGN "dance" is completed and the consumer provides demonstrative consent for electronic disclosures, the receipt disclosure must be provided in writing. And, because the combined disclosure alternative described in § 1005.31(b)(3) includes the receipt, the combined disclosure will also have to be in writing, unless you have received E-SIGN demonstrative consent for e-disclosures.
Any remittance transfer disclosure can be provided electronically if the sender has provided demonstrative consent under the E-SIGN Act for e-disclosures. Generally, however, remittance transfers are "one-off" transactions, so it may be unusual to have previous demonstrative consent.
Special disclosure requirement and exceptions apply to remittance transfers requested in oral telephone transactions.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8