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How does the periodic statement apply to stored value cards?

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Question: 
I am not sure if this is the proper category, but I am trying to find some information regarding stored value cards and Reg. E. In particular, how does the periodic statement requirement apply in this instance? Our holding company has elected to provide electronic statements if a customer purchased a card through the internet; however, if the customer purchases a card at POS, then how does the periodic statement requirement apply? Can "periodic" mean monthly?
Answer: 

The OCC bulletin, OCC-B-96-48 Stored Value Card Systems, is the best source I have found to describe different features and risks on these. Depending on the features of the card, it may or may not fall under Reg. E.

First published on BankersOnline.com 3/19/01

First published on 03/19/2001

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