Monitoring Customer Electronic Statements

Answered by:

Question:

For checking monthly statements, if a customer agrees to accept electronic delivery of these, do we need to monitor if the statements are retreived and provide paper if they are not?

Answer:

Answer by Jim Bedsole: As long as your delivery is compliant with ESIGN, there is no requirement to monitor that the customer has retrieved the statements.

Answer:

Answer by Richard Insley You do have to monitor receipt of "bounced" email alert messages and will eventually need to send a paper statement if you have no alternate Email for the customer.

First published on BankersOnline.com 4/4/05