Regarding Final Remittance Transfer Rules, if we only have 9 outgoing international wires a year, are we required to provide a disclosure?
The new change to the EFTA about "Remittance Transfers" is this the same as wire transfers? What is the difference?
What are the differences between EFT and Wire Transfers? What file formats are used by each?
Are wire transfers that originate from the internet home banking covered by Reg E? Reg E says that wire transfers are not covered, but I'm wondering if that the request originates from home banking changes anything.
I have been told that the employees in charge of on-line banking are considering allowing wire transfers through our new on-line banking product. What kind of compliance and security issues should they consider when they are designing this product? We are new to on-line banking so my feeling is that we should learn to crawl before we run. Some of the bigger banks do not have this on-line banking feature. How does our midsize bank think they have the resources and the knowledge to accomplish this?
The companies that provide bank technology are developing ways for bank customers to securely automate the process of exchanging data without using dedicated modems, TTY transfer or physical exchan
Do ACH transactions include wire transfers and EFTs?
Do outgoing wire transfers count in the Reg D limits? If so, are they included in the 3 limit or the 6 limit?
We have an elderly customer who has a caregiver. One of the duties of the caregiver is to help the customer write checks for monthly bills. Recently, we've been concerned that the caregiver is perhaps helping herself, rather than helping the customer, because some of the checks are larger than normal and others are made out to payees that would be unusual for our depositor. We've tried talking with the customer, because we're alarmed at her rapidly decreasing balance, but she does not appear to be able or willing to stop the misuse of her funds. The customer has signed each item, but we still feel awful paying them because we believe she's being taken advantage of.The customer's grown children live out of state. We're tempted to call one of them to discuss the situation, but we can't do so because of financial privacy constraints. Any other suggestions?
We will be launching online banking in about 60 days. I would appreciate any ideas you might have for making our customers aware of it, promoting it outside the bank, getting people to try it.