Online Banking Chat

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Question:

We would like to set up an online banking chat on our bank’s website, where our online banking customers will able to contact a customer service representative regarding their accounts. What compliance issues do we need to address to implement this service?

Answer:

If this is a support service there isn't much. The same issues that your CSRs face on the phone will exist here. The harder issue is manning the chat line while your customers want someone there.

Links that you provide to your website should include all appropriate disclosures where the link is, or on the site page you take them to. Otherwise, it is the same telephone talk-offs you are used to, disclosing APYs to the hundredth, using the term APR when disclosing loan rates, etc.

First published on BankersOnline.com 7/06/09