03/06/2006
On Visa's website under Zero Liability it states that financial institutions may impose greater liability on the cardholder if the financial institution reasonably determines that the unauthorized transaction was caused by the gross negligence or fraudulent action of the cardholder -- which may include the customer's delay for an unreasonable time in reporting unauthorized transactions. We have a cardholder with unauthorized transactions. I can see that she did a balance inquiry with her card at our ATM five days before she notified us that there was a problem with her account. At the time of the inquiry she was overdrawn and over $800 in unauthorized transactions had occurred. She is negligent in not reporting the issue sooner. By following Visa regulations is she liable for any transactions that occurred after she noticed the balance was not correct at the ATM?
02/27/2006
We are considering offering bill payment on our internet banking website. What regulations are applicable, and are there any additional disclosures required?
02/20/2006
Is doing a transfer from one account to another with the same TIN, through PC Banking from a MMF considered an unlimited permissible transaction?
02/06/2006
I attended a seminar Wednesday 1-11-06 on ACH returns. I have a question regarding customer notice to the bank of unauthorized ACH entries. You say the customer must notify the bank within 15 days of statement delivery, but what we are reading in Reg E indicates the customer has 60 days to report unauthorized entries. Please clarify.
01/02/2006
We have a customer that has excessive overdrafts on his account. Do we have to give him notice prior to blocking his debit/ATM card?
10/17/2005
If a customer notifies a bank in September 2005, of unauthorized ATM withdrawals occurring in May and June from a foreign country ATM (which she visited), are we liable for everything occurring in the first 60 days minus the $500.00 even though we weren’t notified with in the time limits? This pattern of withdrawals has been happening since November 2004. Consumer says they were only in the foreign country in July, but didn’t dispute any other withdrawals from there. Also...why does Reg <a href="http://www.bankersonline.com/regs/205/205-6.html">205.6(3)</a> seem to contradict <a href="http://www.bankersonline.com/regs/205/205-11.html">Reg 205.11(b)</a>in that Reg <a href="http://www.bankersonline.com/regs/205/205-11.html">205.11</a> implies we don’t have to comply if they don’t follow the 60 day notice but Reg. <a href="http://www.bankersonline.com/regs/205/205-6.html">205.6</a> says we must pay the loss.
10/03/2005
If a customer submits a Reg E claim which consists of two or more transactions, does their $50 liability apply to each separate transaction or the total amount of the two or more transactions?
10/01/2005
- Nearly a third of victims surveyed blamed their compromised IDs on the Internet, where they think their information was exposed to hackers.
08/01/2005
Postbank, Germany's largest retail bank, was among winners of the third annual Most Innovative Solution Award from Speech Technology Magazine.
07/18/2005
We have a business account that's an LLC. The partners on this account would like to electronically debit this account to credit their personal accounts (also held at the bank)? Would you agree that this transaction should be electronic and if so, what documentation should we require? If the answer is to the contrary, then should we require that the customer write a check out of the business account and deposit to the personal accounts?