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#2262393 - 11/10/21 09:46 PM Electronic Banking/Bill Pay - Receipt?
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,049
In the mountains
Must transactions made in the following ways have a receipt (even if electronically on the screen) that meets all the requirements of 1005.9(a)?

> Bill payment to a company via ACH or Debit Card using the Bill Payment module in Electronic Banking
> External transfer - transfer from your account at this FI to your account at another FI using Electronic Banking
> Internal transfer - transfer between your accounts at the same FI using Electronic Banking

Thanks in advance!
Always learning something new...

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Deposits and Payments
#2262401 - 11/11/21 02:18 PM Re: Electronic Banking/Bill Pay - Receipt? Likes to Comply
rlcarey Online
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Joined: Jul 2001
Posts: 78,649
Galveston, TX
The OSC also clarifies that terminal receipts are unnecessary for transfers initiated on-line. Specifically, OSC §205.2(h)-1 provides that, because the term “electronic terminal” excludes a telephone operated by a consumer, financial institutions need not provide a terminal receipt when a consumer initiates a transfer by a means analogous in function to a telephone, such as by a personal computer or a facsimile machine

The opinions expressed here should not be construed to be those of my employer:

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