We need to communicate a change to our Business Mobile Banking customers. Is it permissible to send these customers (approx. 450 relationships) a text message to their cell phones with a link to the product change description without getting their express consent?
Do all banks need a social media department with written policy and procedures?
What do the initials EDP stand for?
When filing a written statement of unauthorized debit, can a financial institution charge you a return fee to process an ach that came from an account?
We are discussing accounts you can merge on online banking (so that the agent can see the fiduciary account along with his/her personal accounts with a single log-in) for example: 1.) Rep Payee 2.) Escrow Agents 3.) Power of Attorney-Appointed Agents 4.) UTMA Accounts The custodian has been challenged as to whether or not you can or can't combine with a parent’s accounts online banking. Is there any legislation or case law or statutory basis for which we must decline these requests or is it discretionary?