Of interest to those with wire transfers, commercially reasonable security procedures, less than one-year liability for notice and hold mail agreements. Especially if you're in NY.

Quote:

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The N.Y. court held the notice requirement under article 4A cannot be varied, even when customers make hold-mail agreements with a bank.


Regatos has important implications for the banking industry. Banks should evaluate hold-mail and similar arrangements and consider including a requirement that customers receive periodic notices of account activity.


It appears banks may not use customer agreements to shorten the time of customer notification of unauthorized transfers. Under the N.Y. case, which other courts are likely to follow, the customer gets one year, period.

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Andy,
You beat me to the punch on this. I was just asked to research this very item this morning.

Based on the quick read of this one article, changes could be in order in a lot of shops. I hope the reference shortened your research time.