Wisconsin Administrative Code
Department of Financial Institutions
DFI-Bkg 1-78 - Department of Financial Institutions-Banking
Chapter DFI-Bkg 14 - Customer Bank Communications Terminal Joint Rules
Section DFI-Bkg 14.08 - Customer service and disclosure requirements
Current through February 26, 2024
(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:
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: