09/06/2004
If a check is issued to a retailer who converts it to an electronic entry and the customer wants to place a stop payment on the check, which stop payment form should be used - a check stop payment form or an ACH stop payment form?
09/06/2004
When a customer writes a check and then wishes to place a stop payment order on it, if the check is erroneously converted to TEL transaction, the ODFI does not know this is an error and processes the transaction. Is a stop payment valid on TEL and WEB transactions that may be erroneous or even fraudulent?
06/16/2003
We are a small community bank and we are working on offering e-banking products. We would like to be able to allow our customers to put on a stop payment online. My questions are, what are the risk in allowing this? How long do we have to get the stop payment in our core system? For example: on a Friday night the customer puts on a stop payment. We don't get it until Monday morning. What if the check comes into the bank, such as they come directly to the teller line to cash on Saturday and we do not have it entered into our core system. Would we be liable? Do we need to have some special language on our site telling our customers that there is a delay?
08/06/2001
We have a message posted on our Web site that tells customers not to submit emails that contain sensitive or confidential information and that tells them not to use email for specific transaction-related requests. Our system gives us the capability of doing auto-responders to any email submitted. We have drafted an auto-responder that thanks the sender for their message, acknowledges that it was received, but basically reiterates our policy about how they shouldn't be sending confidential or sensitive information or anything about a specific transaction or account. It has been suggested that we might want to add something to it to say something like "We will not act upon email requests for funds transfers, stop payments, account closings, or fraud notifications. These must be done either in person, or by calling such and such number." I'd like to know whether you think this is a good approach or whether there's a better way to handle this. We almost considered not even posting an email address on our site at all to just stop the email.
06/04/2001
Should a request to stop payment on a check issued through a bill payment system be handled the same as a normal stop payment request or are there other considerations?
03/19/2001
Should a request to stop payment on a check issued through a bill payment system be handled the same as a normal stop payment request or are there other considerations?
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.