What types of information are held in cold storage?
If we send e-statements are we required to monitor whether they are being read, and if the customer is not opening them, do we have to revert back to paper?
If we want to offer a coupon to a restaurant for a large pizza (worth $20) when e-statements are activated on the customer's account, is this IRS 1099 reportable?
What should you do when a customer enrolls for electronic statements and then subsequently doesn't access the secured website to access the electronic statement?
We are starting the process leading up to electronic statements. I asked that marketing offers be optional links. I would like compliance issues, such as notices of change, to be prominent either at the top of the statement page and/or appear automatically and require action on the part of the customer to move past the notice. I don't know yet what I will get. If we have the technology to obtain customer consent to receive electronic statements, I would think this would be a piece of cake. Of course, I am not a programmer. How are others handling this?
Our bank is soon going to provide customers with the option to receive electronic statements. When they sign up for this feature, we are required to provide a disclosure. What do I need to include on that disclosure to comply with all the regulations?
We currently print the error resolution notice on the back of our E-banking paper statement. We are going to start sending electronic statements. The error resolution notice will not be included in the electronic statement. If we provide a link within the email to a page with the error resolution notice on our bank’s webpage will it suffice?
When we provide electronic statements are we required to provide an account balancing form as well?
Our bank is currently in the process of testing electronic delivery of monthly deposit account statements to employees on a voluntary basis. The statements are delivered in the following manner: an e-mail notification is sent to customers letting them know that the statement is available for review. Then, in order to view the statement, the customer is required to sign onto the bank's website, where the statement can then be accessed (in order to receive electronic statements, the customer must be signed up for e-banking). The statement can then be printed and/or saved to another file by the customer. What would be the E-SIGN ramifications, if any, of this type of statement delivery? Does this type of statement delivery require the bank to obtain demonstrable consent? Would the log on procedures (username and password) suffice for the customer's electronic signature, etc.?
If we were to offer our credit card customers access to their accounts online, and they can view their monthly statements, are we required to also send them a paper statement?