We do not currently have a approval process for debit cards. Bankers are encouraged to issue a debit card to all customers. Management maintains that approval is not required because transactions are limited to the balance in the account. This seems totally risky. Are there any approval requirements for debit cards?

Only the criteria established by individual banks. They range widely.

My bank originally looked at the underwriting process because there is liability when you allow others to stand in. Delayed transactions can come in after the money was debited some other way. There are risks.

That said, the volume of requests was prohibitive to this process and losses were minimal. So there are risks, but in a real world environment we experienced them in a minimal way. We went to a general issue procedure.

Andy - you are referring to consumer, correct? Or do you include business in that general issue procedure also?