The agreement we have customers sign when they enroll in our online banking product includes language regarding the Bill Pay feature. If a customer chooses not to use Bill Pay at that time but decides to take advantage of it at a later date, would they need to sign an additional document or disclosure? If it is not a requirement, would it be a best practice to have them sign something or provide them with a complimentary document that describes the Bill Pay features? Any help along with possible regulatory cites is very much appreciated.
I want to understand the structure of an e-banking system. I intend to prepare and submit a proposal for implementing an e-banking solution for my bank. What infrastructure should be in place? Is the solution software based? What are the hardware and software required?
A person makes out a deposit slip at the ATM to deposit $3,000.00 into their bank account. The ATM system immediately credits their account for the $3,000.00. They also receive credit for the $3,000.00 when the deposit transaction is retrieved from the machine. They don't notice for a few days until they check their online banking that $3,000.00 was credited to their account twice. Upon looking at the statement, it shows that there were two $3,000.00 deposits in the account. The thought is naturally that the error will be detected and the amount withdrawn. It has now been fourteen (14) months and has shown up on two bank statements. The questions: 1) Is there any law covering whether or not the money becomes the property of the account holder after a certain amount of time, and if so, what rights does the account holder have? 2) The account gets closed say after ninety (90) days, and the error is still not detected, but they find it fourteen (14) months down the road. Would they be able to pursue legal action?
I had a Banker open an account for a corporation. He went online to get a copy of the state certification. When checking over the business resolution, I noticed that the person listed as Secretary on the state site is not the person listed as secretary on the resolution. Should I have them come back and redo the resolution?
A customer had her ATM card stolen and claims the PIN was not written on the card and that it could not be easily guessed. There were two withdrawals done at a foreign ATM before she notified us (same day just a few hours later). The transaction journal showed no invalid PIN attempts. She filed a police report and the police dept. was able to retrieve photos. We issued her provisional credit within the time frame as per Reg E. We have contacted her to view photos but she has made excuses not to come in. Even though the photos clearly show she is not the one who did the withdrawals, can we hold her liable for the $50.00 since there were no invalid PIN attempts and she's no longer being co-operative in helping to identify a possible suspect?