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#248291 - 09/23/04 06:30 PM Expiration on ATM Cards
Ginlyn, CRCM Offline
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Ginlyn, CRCM
Joined: Nov 2003
Posts: 300
Oklahoma
Does anyone know of a requirement whereby ATM cards can only be issued on a yearly basis? We would like to issue ours for two years (to be more cost effective), but were told that there might be a compliance regulation that would hinder this. I have searched but have found nothing.

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eBanking / Technology
#248292 - 09/23/04 07:51 PM Re: Expiration on ATM Cards
Andy_Z Offline
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Andy_Z
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Posts: 27,136
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None that I have heard of. Debit cards often go through a reissue process for control purposes. There may also be fee income generated as a result of this. But if you want no expiration at all, unless there is a state law, it is up to you.
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#248293 - 09/23/04 08:33 PM Re: Expiration on ATM Cards
Ginlyn, CRCM Offline
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Ginlyn, CRCM
Joined: Nov 2003
Posts: 300
Oklahoma
Thank you, Andy. That is what I thought, but I wanted to make sure before we made any changes. I also checked with a state examiner and got the same answer as yours.

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Moderated by:  Andy_Z