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#804054 - 08/28/07 05:56 PM account number truncation
A D Virr Offline
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Joined: Oct 2000
Posts: 398
Derry, NH
Is it general practice to truncate customer account numbers on deposit receipts? I know it is not part of Reg E; but we all know the regulation is outdated. It seems to me to be a good practice. Many customers throw away their receipts. The the receipt were to be found in a customer's trash it could create a fraud incident. Not only that, the customer account numbering series for your bank could be compromised.
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Deposits and Payments
#804062 - 08/28/07 05:59 PM Re: account number truncation A D Virr
Milby Offline
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Joined: Apr 2007
Posts: 953
Tejas
Last three digits on our receipts only.
1234567890 becomes xxxxxxx890

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#804086 - 08/28/07 06:11 PM Re: account number truncation Milby
John Burnett Offline
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John Burnett
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Posts: 40,086
Cape Cod
Well, Allan, there is a passing reference to truncation in Reg E, section 205.9(a)(4):
Quote:
(4) Identification. A number or code that identifies the consumer's account or accounts, or the access device used to initiate the transfer. The number or code need not exceed four digits or letters to comply with the requirements of this paragraph (a)(4).


The emphasized text was added to this paragraph at about the same time Visa and MasterCard were making noises about mandatory truncation.

A lot of ATM receipts include both a card number and an account number. Ideally, both would be truncated.

Another area in which some people are suggesting number truncation is the account number on periodic statements. Regulation E doesn't allow for truncation in its periodic statement requirements. It simply says that the account number must appear.
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#804124 - 08/28/07 06:32 PM Re: account number truncation John Burnett
A D Virr Offline
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Joined: Oct 2000
Posts: 398
Derry, NH
Thanks, John. I had missed that one.
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Allan D. Virr, CRCM,CRP
Compliance Audit Solutions, LLC

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#804177 - 08/28/07 07:10 PM Re: account number truncation A D Virr
John Burnett Offline
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John Burnett
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Posts: 40,086
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For those wondering when this occurred, there was an interim rule issued in the 12/2/1994 Federal Register, and a final rule published in the 3/22/1995 Federal Register.
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#804804 - 08/29/07 03:07 PM Re: account number truncation John Burnett
A D Virr Offline
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Joined: Oct 2000
Posts: 398
Derry, NH
John, i looked at the regulation and it seems to be specific to electronic terminals. Does this apply to teller terminals also?
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Allan D. Virr, CRCM,CRP
Compliance Audit Solutions, LLC

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#807819 - 08/31/07 09:12 PM Re: account number truncation A D Virr
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
No. Teller terminals would not (ordinarily, he adds carefully) handling EFTs. As far as I know, there is no federal requirement to truncate account numbers on teller terminal receipts.

There was a lot of discussion a while ago here in Bankers' Threads about masking account numbers on receipts, particularly when a transaction is completed by a non-account owner. Ditto on the balance that often prints on teller receipts. It revolved around Reg. P discussions.
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