Vendor Guru Q&A - Operations

Latest Operations - Overdraft Charges Topics

Daily overdraft fee limits

12/04/2016

Is there a regulatory limit on the number of overdraft charges that can be applied in one business day?

Free overdrafts?

11/13/2016

May an advertisement mention the term “free” with respect to a financial institution’s overdraft services?

OD Fee for One-Time POS Debit Card Transactions

08/16/2015

We offer opt-in courtesy overdraft (COD) services for one-time POS debit card transactions. If sufficient funds are in an account at the time a transaction is authorized, but there are insufficient funds at the time the transaction is settled (either because the preauthorization hold has expired or the transaction cannot be matched upon return), can we charge the overdraft fee?

Charge NSF Fee On POS If Customer Opted In?

04/28/2014

Can an NSF fee be charged on a re-occurring POS transaction if the customer has opted in?

Check “washing”

04/07/2024

What does check washing mean?

Can cashier’s checks be converted to ACH entries?

04/07/2024

We paid an ARC ACH entry that was created from our cashier’s check. We then discovered that the original cashier’s check had already been paid. Can we return the ARC entry?

My customer moves around what would be address for BOI?

04/07/2024

What residential address should be reported if a reporting company is required to a report an individual’s residential address, but that individual does not have a permanent residential residence?

Deposit Agreements that Enhance Reg E

04/07/2024

We had a problem with debit card claims so we modified our deposit agreement. If they don’t cooperate in the claim process, we can deny it. Do you think this solves the problem?

Image what ID for BOI?

03/31/2024

What are some acceptable forms of identification that will meet the reporting requirement?

Latest Operations - Overdraft Charges Topics

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