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Are Bill Payments covered by Reg. E?

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Are online bill payments covered by Regulation E?

In most cases, yes. As is frequently the case, the answer is found in the Official Staff Interpretations of the regulation (Supplement I), specifically in Comment 3(b)-1-vi:

1. Fund transfers covered. The term electronic fund transfer includes:
* * *

vi. A payment made by a bill payer under a bill-payment service available to a consumer via computer or other electronic means, unless the terms of the bill-payment service explicitly state that all payments, or all payments to a particular payee or payees, will be solely by check, draft, or similar paper instrument drawn on the consumer's account, and the payee or payees that will be paid in this manner are identified to the consumer.

First published on 5/9/11

First published on 05/09/2011

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