When a customer returns merchandise they purchased and requests a refund, how long does the merchant have to refund the customer and when should they come into their financial institution to make a Reg E claim?
If I sell gift cards at my teller window and/or at a merchant’s location, am I required to get new account data such as TIN and driver’s license numbers?
Do we need to provide e-statement disclosures in electronic format only, or if a customer signs up in a branch can we deliver the disclosure in print format either by handing out or by mail by the next business day?
I recently read in some training that we did that if an EFT has a stop payment put on it that it will stop any and all future transactions for any amount of time until the customer contacts the bank and asks them to resume payments. Is this true, or can we place a normal stop period of six months on an EFT like we would for a paper item or check?
We are in the process of developing an eStatement service. Are we required to send Email notifications each month to the customers that have consented to receive eStatements, even though all of our statements cycle month end/quarter end? Does the consistency of the one cycle month end statement still necessitate monthly notification via email?