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#1154531 - 03/31/09 03:17 PM Electronic Delivery of Overdraft Notice
mbernard Offline
100 Club
Joined: Jul 2008
Posts: 109
We have an overdraft program and every time a transfer has to be made for the customer to cover a transaction, we send out a notice to notify them that the transfer was made. Can we make this notice electronic to those who are already signed up for eStatements?

Also, we have a Courtesy Pay program that will pay up to $1250. Every time the person accesses funds or we pay a transaction for them, we charge a $25 courtesy fee and send them a notice that says the transaction was paid. Can we make this notice electronic to those who are already signed up for eStatements?

Is there Electronic disclosure requirements for Reg DD that these would fall under? I’ve had some trouble locating a Reg that will help me decide if we can do this, so any guidance is appreciated.

Thanks in advance! =)

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#1154830 - 03/31/09 07:15 PM Re: Electronic Delivery of Overdraft Notice mbernard
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Neither of those notices is required by regulation, which means that neither has to be in written (ink on paper) form. So, if you wish to continue sending the notices, you can do so electronically. As a customer, I'd appreciate getting an email notifying me of the transfer and/or courtesy pay fee. For most customers, e-delivery will be more timely than snail mail.
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#1154925 - 03/31/09 08:23 PM Re: Electronic Delivery of Overdraft Notice John Burnett
mbernard Offline
100 Club
Joined: Jul 2008
Posts: 109
Thanks!

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