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Reg E & PC Account Transfers

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When a customer transfers money between two accounts at our bank via their home computer using our bank's internet web site, are these transactions covered under Reg E?

Yes. These are not originating as a paper based transaction (a general rule of thumb on applicability) and are akin to telephonic transfers through a bill/computer payment system. (205.3)

First published on 7/15/02

First published on 07/15/2002

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Filed under technology as: 

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