Most Popular Technology Content
Automated Telephone Banking Systems
10/04/2010
Regarding automated telephone banking systems, customers can currently inquire (get account balance and info) by phone with their account number and last four digits of their SSN. If they want to transfer funds between their accounts, they must complete an application. My bank wants to give automatic access to transfers too. I'm concerned about Reg E issuing access device rules. Is calling the number and following the steps, "requesting" the access? We have new operations personnel who say all banks do this automatically. Other banks don't have customers fill out a form or call and talk to someone, it is all done through the automated phone system. Does this comply?
Opted in, then Account Suspended
09/27/2010
A customer has opted in to the overdraft protection and then the bank decided to suspend his protection because he did't bring his account positive. Is there a disclosure the bank needs to send to the customer letting him know that his overdraft protection has been suspended? If the bank wants to reinstate the overdraft protection after the account is brought current, does the customer need to sign the opt-in form again?
Overdraft Fees Caused by ATM/POS Transactions
09/27/2010
Relative to charges for overdrafts caused by ATM or POS transactions, when a customer has opted out, when counting the consecutive days overdrawn, must we look at all ATM/POS transactions back to the reg implementation date or do we just exempt the ATM/POS transactions that caused the current overdraft?
Online Transfers between Business Accounts
09/27/2010
With all the new advances in online banking, what are the rules concerning online banking transfers between two business accounts (corporate, LLC, partnership) with two different tax ID numbers, but both are owned by the same person?
No Opt-in but Wants Debit Card
09/20/2010
We decided to not charge for debit card and ATM overdrafts, because we have had a few customers who have been abusing that, so we stopped their debit card. Now they are asking if they can get the card back and pay the fee. Can we allow them to opt in on a case by case basis?