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#2269174 - 04/15/22 03:38 PM Change of Address within Internet Banking app
BythelakeBel Offline
New Poster
Joined: Apr 2022
Posts: 2
Hello!

Does anyone allow a change of address within their internet banking Platform? We are a Premier Fiserv core ...It doesn't appear to be an option. I've had others around me check their other banks and most of them to seem to offer this. Looking to see what others are doing. We are currently using Docusign but looking to get away from that.

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eBanking / Technology
#2269189 - 04/15/22 05:02 PM Re: Change of Address within Internet Banking app BythelakeBel
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
our OLB allows it, but we currently have it turned off. Future state for us to make live.
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#2269341 - 04/19/22 03:43 PM Re: Change of Address within Internet Banking app BythelakeBel
TMatt87 Offline
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TMatt87
Joined: May 2011
Posts: 1,984
Idaho
We have been asking for this feature for years. We are also Fiserv Premier. One would think such a large company would have an easier way to change your address.
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#2269399 - 04/20/22 03:26 PM Re: Change of Address within Internet Banking app BythelakeBel
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Perhaps the service provider is concerned that it could become too easy to change the address?

Fraudulent address changes are often followed by unauthorized transfers and other theft from accounts. Making address changes easy could make it easier to rip customers off.

If you ever get the ability to have customers input a change of address via your online banking portal, make sure you have a robust control procedure to mitigate the risk of fraud.
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#2269425 - 04/20/22 08:22 PM Re: Change of Address within Internet Banking app BythelakeBel
compgal21 Offline
Junior Member
Joined: Jan 2021
Posts: 45
I agree with John. We are a smaller bank, so it is easier for us to have a control procedure in place and we review a report of online banking updates. When we noticed an increase in fraudulent address changes due to customers allowing fraudsters access to their online banking we got our service provider to disable the function. As of right now, the function has been enabled again, but have not seen a rise in fraudulent address changes at this time. Sometimes I believe that it would be easier to leave the address change function disabled, but you know how that goes sometimes.

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#2270949 - 05/26/22 07:07 PM Re: Change of Address within Internet Banking app BythelakeBel
BythelakeBel Offline
New Poster
Joined: Apr 2022
Posts: 2
I wanted to thank everyone for their input! Great help!

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#2274785 - 08/26/22 02:18 PM Re: Change of Address within Internet Banking app BythelakeBel
ml12 Offline
New Poster
Joined: Jan 2016
Posts: 19
We are on Fiserv as well and were actually just looking into getting Docusign for address changes. May I ask why you are looking to get away from it? What challenges did you have with Docusign?

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#2274789 - 08/26/22 02:34 PM Re: Change of Address within Internet Banking app BythelakeBel
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
What does DocuSign and address changes have in common?
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#2274827 - 08/26/22 09:10 PM Re: Change of Address within Internet Banking app BythelakeBel
fmissle Offline
Diamond Poster
Joined: Jul 2007
Posts: 1,016
Pac NW
We use Docusign with out of wallet questions to authenticate the client for some things. We're not currently using it for address changes, but that is a use case we've looked at.

So I think that's the tie in that's being discussed.

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#2277842 - 11/10/22 09:39 PM Re: Change of Address within Internet Banking app BythelakeBel
Deputy Dawn Offline
Gold Star
Deputy Dawn
Joined: Feb 2007
Posts: 485
Pennsylvania
Recent scenerio - Imposter calls in and has phone number "updated". Registers for OLB access with stolen identity information. MFA code goes OLB registration goes to phone number on record. Imposter is then changes address thru the OLB.

Several months later - calls and asks for checks to be mailed to address on record.

Account was a line of credit - only account customer had with us.

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