When the bank sends out customer notifcation that the E-Statement is available but receives the notification back with a bad email address. This Customer has already accessed their statement directly by the bank's website log onto E-Statements and the bank has a report showing this access, do we still need to do the " bad" email address procedures as mentioned in the "Threads" on this subject?

I have a similar question. The e-mail notification is totally unrelated to the customer's ability to access their e-statement because the statements are available in home banking. When the e-mail kicks back to us, we call (usually having to leave a voice mail message) and ask to be provided a new e-mail address, but they generally ignore us because they are still getting their e-statements. So, if they get the required disclosures (i.e. the statements), do we still need to find another way to deliver the notification and discontinue e-statements if they do not respond with a new e-mail address? Most of these customers don't even want the e-statements because they have had all their account information available throughout the month on home banking.

Another question. Some in our bank want to email the statements to the customer. I've not heard of this - it doesn't sound good due to rick of incorrect email address. Is it possible to do this?

I wouldn't recommend it. Not only would you have to encrypt the statement, you would definitely have to find a way to deliver the statement when the e-mail is returned as undeliverable. Too many people don't keep their e-mail addresses updated (or even their home addresses for that matter).

If you fail to do anything when the e-mail bounces, you run the risk of being challenged that your e-statements don't satisfy the requirements of eSign and therefore were never effectively delivered. You'd counter with an argument that your customer pulled down the statement anyhow, and now you're stuck in the "proof" battle in court.

What if, the e-mail bounces and we print and mail the statement? We have a specific account to which the e-mail will bounce back to.

You can always comply with a requirement for a "written" disclosure by printing it and delivering it.

John, I'm going to piggy back on this one.

We are getting ready to implement the 'no mail' statements for customers who request this. We will send a monthly e-mail letting them know their statements are available. We have an opt-out letter prepared which I am comfortable covers everything.

My question is, we are going to provide them with a link to the monthly Reg E short form notice. Is this sufficient or will we need to provide these customers with the annual long form notice?

Thanks!

If your e-Sign demonstrable consent covered the receipt of other disclosures required by law in connection with the accounts, I think you could be covered. You could include the link in each email announcement of statement availability (or you could include the language of the notice in the email itself). Or, I suppose, you could include the link in each statement (probably more complicated than the other suggestions).

In cases in which you provide the link, I'd recommend it be clearly and prominently displayed. Something like "Click HERE for information on correcting errors involving electronic transfers."