04/01/2003
- The average ATM surcharge is now $1.47 - the most common is $1.50, with more institutions than last year charging $2.00.
02/03/2003
I would like to hear about any new products or services being offered by any size bank in the US.
12/02/2002
When a joint accountholder dies, what is the usual procedure for setting up new signature cards? Example: John or Jane Doe has an account with John's social security number listed first, and John dies. Some customers never come in to change the account, and we eventually call them and ask them to come in and do new signature cards. We have a trust account now that the husband died, but do we automatically draw up new signature cards, or what?
11/04/2002
What are the Reg E disclosure requirements regarding a merchant's use of electronic collection for checks presented for payment?
10/07/2002
Presently safe deposit renters can either pay by automatic payment from their checking account or send out a annual notice to pay. We are having problems collecting from the customers that we send out notices. Our bank would like to change its policy and REQUIRE renters to have automatic payment from their account or if they don't have an account with us, originate via ACH. Is there any compliance issue regarding the required method of payment? If we require auto payments, I plan to send out a letter to the renters that currently receive notices that they have until the next annual billing to change their payment method.
10/01/2002
- 74% of US financial institutions do not charge accountholders fees for PIN-based debit card transactions.
09/02/2002
What non-activity determines the status of an account to become dormant. Is it just no withdrawals made within a certain time frame. Or is it no withdrawals and deposits being made? What Reg is this discussed in?
09/02/2002
While checks payable to a business must be deposited to that business's account, our bank has been allowing signors on a business account to transfer funds to their personal account. Business customers must reconcile account and report problems, I think this situation could lead to losses for the bank and/or the customer.
09/01/2002
Associated Bank, Green Bay, Wisconsin, has created a fully integrated business system designed to allow business banking to do better information management.
08/12/2002
We recently trained our employees on the new ARC entries and what to tell customers when one of their checks is converted to an ACH entry. It is my understanding that the originator is required to retain a copy of the source document (the check) for two years from the settlement date. The originator is required to send the RDFI a copy in the event our customer requests it. We obtained this information from the NACHA operating rules. My concern is that customers often need their cancelled checks or copies more than two years after they clear. What about in the case of an IRS audit? What do we tell these customers?