Accept Regulation E Elections Online

Consumers are required to opt in to have ATM and everyday debit card transactions considered for authorization using the overdraft limit. The request can be submitted, in person, through the mail, over the phone, or electronically.

If institutions do not already offer an electronic Reg E opt in or opt out option, ODP Manager can be set up to allow customers to submit their request online. In the hosted software, the Reg E Opt In Form and Reg E Opt Form will be created to match the content on the ODP Manager letter templates. Links to the forms will then be added to an institution’s website to direct customers to submit their Reg E election. Email confirmations are generated and sent to the customer and to the ODP Manager user who will retrieve the submissions and update the accounts accordingly.

In ODP Manager, users will link the request to the customer’s account and the customer’s electronic submission will be retained in the Account Inquiry Attachments for the account. Users can download a list of the submitted requests to perform the maintenance to the account’s Reg E election in the core processing system. The account should be updated in the core to be opted in or opted out of the ATM and everyday debit card transactions according to the customer’s request. By default, new responses will show in the list in the hosted software. Prior responses are also retained and can still be viewed after they have been downloaded.

If you have any questions about setting up the online Reg E Opt In or Reg E Opt Out forms in ODP Manager, please contact Strunk Support at support@strunkaccess.com for more details.