What does the term “omnichannel” mean as it applies to banks?
I’ve heard about keylogging- how does it work?
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?
For online banking, is it acceptable to have the EFT and eSign disclosures open as one document (both displayed on the screen in full) and then assent to both with ONE click?
Can a bank accept a stop payment from a online banking account without a signature? Will the printed request be sufficient and hold up in court?
When setting up businesses for online banking, ACH, and remote deposit capture, does the bank maintain control over users of the business or do they set up an administrator for the business for them to maintain?
A new account (joint) for an existing customer with her adult daughter was opened and had 2 signatures required for withdrawal coded on account and contract. The customer already had Internet banking and the new account was not blocked from being accessed. What is the liability of the bank for funds transferred to an individual account via internet banking?
Regulation E. Timely notice not given question? We often have customers file debit MasterCard claims 6 months or more past the date of the "unauthorized" transactions. Regulation E would have the bank responsible for the first 60 days from the statement date. What if we have proof of Online Banking activity or that the customer accessed their E-statements, during and/or after the disputed transactions? Would the liability now fall on the customer, or are we still responsible for the first 60 days unless proven authorized?
If a customer "opts in" to have their statements provided in their online banking, are we obligated or regulated to send them a paper statement AND online statement the 1st month their statement cycles?
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.