Latest Operations - Information Security Guidelines Topics

Notice requirements for closing an account

08/25/2019

How much notice do we have to give the owner of a personal account of our intent to close her account?

ACH Fraud Investigations and Mitigation

08/04/2019

Our customer connected their checking account to a third-party payment app and now claims that a $4,000 ACH debit to their checking account is fraud (money went to the TP). They won’t complete a WSUD so we can’t return the entry. Do we have any recourse?

Three’s a Crowd

08/04/2019

Our customer connected their checking account to a third-party payment app and now claims that a $4,000 ACH debit to their checking account is fraud (money went to the TP). They won’t complete a WSUD so we can’t return the entry. Do we have any recourse?

Customer didn’t read the fine print

07/28/2019

Our customer says they signed up for a free trial offer and gave their checking account number to pay for the S&H, but claim they didn’t want ongoing shipments. They want us to return the 4 ACH debits that hit their account. Can we return?

ACH Fraud Investigations and Mitigation

07/21/2019

Our business customer says they have proof that another business fraudulently debited the customer’s account multiple times over the past 2 months via ACH CCD, then disappeared. Since they can’t get their money back from the other business, the customer wants the bank to return the transactions. Can we return the transactions with our customer’s “evidence” of fraud?

Bickering Businesses

07/21/2019

Our business customer says they have proof that another business fraudulently debited the customer’s account multiple times over the past 2 months via ACH CCD, then disappeared. Since they can’t get their money back from the other business, the customer wants the bank to return the transactions. Can we return the transactions with our customer’s “evidence” of fraud?

Layers of fraud detection

07/14/2019

What are some solutions available to help our bank detect possible fraud faster? Does one solution work for every account type (business and consumer)?

PPD for the WIN!

07/07/2019

Our business customer has been debited 3 times by a business they don’t work with. All of the entries are PPDs that settled in the last 20 days. Do we have any recourse for our business customer?

PPD for the WIN!

07/07/2019

Our business customer has been debited 3 times by a business they don’t work with. All of the entries are PPDs that settled in the last 20 days. Do we have any recourse for our business customer?

No written notice

06/30/2019

Our customer called stating 5 recent ACH debits are “fraud.” We’ve asked for a WSUD but haven’t received it yet, and 2 of the transactions are nearing the deadline for return. Can we return based on the customer’s verbal claim? If we don’t receive the WSUD, can we deny the claim?