Wis. Admin. Code Department of Financial Institutions § DFI-Bkg 14.08 - Customer service and disclosure requirements
(1) PERIODIC
STATEMENTS. A bank shall provide each customer with a periodic statement of
each account of the customer accessible through a customer bank communications
terminal . The statement shall be provided on a monthly basis for each month in
which a transaction occurs, or once every 3 months, whichever is more frequent.
The statement shall identify the date, location, and nature of each
transaction. An account statement issued under this subsection may include
transactions made through a customer bank communications terminal or
otherwise.
(2) TRANSACTION
DOCUMENTATION. Every transfer of funds through a customer bank communications
terminal made by a customer of a bank shall be evidenced by a written document
made available to the customer at the time of the transaction. The document
shall indicate with reasonable specificity the identity of any third party to
whom funds are electronically transferred, the identity of the customer's
account, the amount of funds transferred, the type of transaction, and the date
of the transaction. A customer may be required to re-enter an access device,
such as a card, at a terminal in order to receive transaction documentation if
all of the following conditions are met:
(a)
The terminal simultaneously controls the distribution of products at several
locations on the same site to more than one customer;
(b) Each customer must remove the access
device from the terminal and move to another location in order to complete the
transaction; and
(c) The terminal
cannot produce transaction documentation for a particular transaction until the
customer completes distribution of the product and the amount of the
transaction is known.
Note: Paragraphs (a) to (c) apply, for example, to a terminal which monitors a series of gasoline pumps. Each customer must remove the card from the terminal in order to pump the gasoline and then re-enter the card in order to obtain a receipt.
(3) WRITTEN DISCLOSURE OF SERVICES AND
CHARGES. Each customer of a bank whose account with the bank is accessible
through a customer bank communications terminal shall be provided with a
written statement of the terms and conditions governing the account. Such a
statement shall be provided at the time that the customer is issued a card or
other means affording access to the customer bank communications terminal , and
whenever the terms and conditions governing the account are amended. The
statement shall set out:
(a) Applicable
limitations on the customer's liability for unauthorized use of the means
providing access to the customer bank communications terminal , and the address
and telephone number of the person to be notified in the event that the means
affording the customer access to the customer bank communications terminal is
lost or stolen or the customer otherwise believes that unauthorized access to
the account may be obtained.
(b)
The customer's right to a periodic statement of transactions affecting the
account.
(c) An initial disclosure
of the specific transactions which, subject to the capabilities of individual
terminals, may be performed through the customer bank communications
terminal .
(d) Any charges to the
customer for account maintenance or for the use of the customer bank
communications terminal .
(e) Any
limitation imposed on the number of customer bank communications terminal
transactions permitted within any given period of time.
Notes
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No prior version found.