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Foreign Bank Client - Claim Against Bank

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Should we allow a foreign bank client to complete an ATM affidavit for a claim against our bank or refer the non-customer to their bank for the Reg E claim?

If the customer is not an account holder you have no obligations under Reg E. If the foreign bank client is not a resident within the U.S., Reg E would not apply regardless: Foreign applicability. Regulation E applies to all persons (including branches and other offices of foreign banks located in the United States) that offer EFT services to residents of any state, including resident aliens. It covers any account located in the United States through which EFTs are offered to a resident of a state. This is the case whether or not a particular transfer takes place in the United States and whether or not the financial institution is chartered in the United States or a foreign country.

First published on 2/09/09

First published on 02/09/2009

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