Compilation of Rules and Regulations of the State of Georgia
Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE
Chapter 80-1 - BANKS
Subject 80-1-15 - EXTENSIONS OF EXISTING OFFICES AND FACILITIES
Rule 80-1-15-.02 - Mobile Banking Units
Current through Rules and Regulations filed through March 20, 2024
(1) Banks may provide unlimited banking services through mobile banking units that do not have a single, permanent site and use a vehicle that travels to various locations to enable customers to conduct the business of banking.
(2) A mobile branch may provide banking services at various regularly scheduled locations or it may be open in a defined area at varying times and locations. If the mobile branch provides banking services at regularly scheduled locations, then it shall be accessible to banking customers in accordance with a published schedule available on the bank's website. In all circumstances, each mobile branch is required to maintain logs indicating the specific locations and times in which the mobile unit is operating in order to track branch activities.
(3) Each bank providing mobile banking unit services shall carry adequate fidelity, robbery, and hazard insurance coverage commensurate with the risks associated with the operation of such units.
(4) Disclosures shall be given to all customers regarding when deposits will be credited and when checks or other withdrawals will be debited.
(5) Since a mobile unit will function as a branch, application for approval must be made as it is for all other branches.
(6) Banks may alter the banking service area set forth in paragraph 2 of this Rule by submitting advance written notification to the Department.
O.C.G.A. § 7-1-602.
