Give us a call: 954.847.5800

Encourage Reg. E Decisions

Reg. E Outreach Solution

The Reg. E Outreach Solution addresses lost income and account holder dissatisfaction resulting from lack of Reg. E decisions.

Because of changes to Regulation E in 2010, we’re all too familiar with the terms “opt-in” and “opt-out”. And, the reality is that every financial institution has account holders who have a debit card and who value overdraft services, but have never responded with a decision regarding Reg. E.

These account holders are negatively impacted by reduced service levels when their debit card transactions or ATM withdrawals are declined due to insufficient funds. And, your most critical stream of non-interest income is threatened because account holders who value your overdraft service often do not even know a decision is required.

Velocity Solutions’ Reg. E Outreach Solution can help you identify these account holders and contact them directly to educate them and record their decision regarding Reg. E and overdraft services. Since many financial institutions do not have the human resources available to dedicate to making calls regarding Reg. E or the training resources needed to ensure calls are made effectively, Velocity Solutions has developed this program to manage the Reg. E calling effort.

Consistent Messaging

Together, we will work to develop a process for account holder communication. With our experience and guidance, you will approve phone scripting, voicemail scripting and typical conversation points to not only meet the goals of the effort, but also the philosophy of your financial institution. Our experienced and educated staff is equipped with the skills to:

  • Maximize the likelihood of getting informed decisions
  • Increase account holder satisfaction
  • Identify and utilize additional channels to obtain even more responses

Data Security

Reg. E response files are generated daily to capture not only opt-in or opt-out decisions made, but also to provide action items arising from conversations with the account holder. Velocity staff members will see only hashed account numbers. As the files are transmitted back to you via a secure file transfer application, they will decode allowing you access to needed account holder information:

  • Full account number
  • Account holder name
  • Reg. E decision
  • Response notes
Contact Us Today