Latest Technology - EFT Topics

ISP Charges To Closed Customer Accounts

05/06/2002

I have a question regarding how far does a customer's authorization go? Our bank is experiencing several charges, identified as POS, from an Internet service provider for customer accounts, which at the time of the charges, were closed with zero balances. The bank sends the network a balance file every night to The Midwest Money Access Services (MAC). When customer account balances are zero or the account is closed, how could the charges continue to be charged to the bank? When we talk with MAC representatives, they say that the service provider has the authority toinitiate the charge based on the prior customer authorization. They say this situation is like a recurring loan payment.

Controlling Non-Interest Expense: Reducing the Cost of Processing Transactions

12/10/2001

Promoting Online Banking

02/05/2001

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.