TOPIC: Agreement

Customer Agreement - Smart Pay Express

VP at a bank ($436MUSA)

We will begin to offer our commercial customers a service where we (our vendor) provides a customized hosted webpage so that our customer can collect one time or recurring payments from their customers online. Our vendor calls this Smart Pay Express. I am looking for anyone who is willing to share a copy of their customer agreement for this type of service. Thank you.

    VISA Account Updater Disclosure

    VP at a bank ($325MUSA)

    Is everyone now participating in the VISA Account Updater program? I was putting together some program facts to share with our retail staff and came across this in the FAQ on VISA Online. Did anyone update their cardholder agreement for this? Makes sense that we would, but I'm surprised our processor didn't recommend it when they rolled it out. We use FIS EFT services. Thanks in advance!

    "What disclosures should be included in cardholder agreements?
    Visa recommends that issuers use the VAU Terms of Use in conjunction with the VAU Implementation Guide and the Visa Rules to ensure their cardholder agreements properly disclose under applicable law the sharing and processing of personal data in connection with the VAU service. Issuers should contact their legal departments for appropriate disclosure language."

      Preventing the Top 3 Vendor SLA Mistakes

      Good afternoon, Bankers! Today we will discuss SLA mistakes and how to avoid making them. This post originally appeared on the Ncontracts blog.

      Preventing the Top 3 Vendor SLA Mistakes

      Service-level agreements can be one of the most effective tools in a financial institution’s vendor management arsenal, but too many institutions make major mistakes when crafting SLAs...

      READ THE FULL PDF: Download the attached PDF

        Courtesy Pay Disclosures and Membership Agreement

        VP at a credit_union ($691MUSA)

        We have updated our Courtesy Pay disclosures to a stand alone brochure. Our membership agreement (Loanliner) briefly discusses overdraft and courtesy pay. The changes in our new disclosures are: 1) detailed information about actual vs. available 2) reset symitar parameters to the benefit of the member 3) raised the balance threshold from $5 to 10$ 4) reduced the number of courtesy pay fees which may be assessed per day.

        My question is with all the changes 1) Do we need to include the stand alone disclosure in the membership agreement 2) If membership agreement is updated - do we have to send to all our members 3) can we send only the new disclosures to those members with checking account.

        I would like to hear how other credit unions have handled this process.

        Thanks

          Have a Service Level Agreement (SLA) for Every Vendor

          Good morning, Bankers! Today we are discussing the importance of Service Level Agreements (SLAs). This post originally appeared on the Ncontracts blog.

          Have a Service Level Agreement (SLA) for Every Vendor

          In the world of vendor management, there are very few things that can hurt your financial institution more than declining vendor financial performance. When this happens, be on the lookout for unforeseen drawbacks...

          READ THE FULL ARTICLE: Download the attached PDF

            When Your Vendor Says 'Your Data Was Breached - Six Months Ago.'

            Good morning, Bankers! Today we are discussing how to respond to a nightmare situation: a data breach your vendor failed to report in a timely fashion. This post originally appeared on the Ncontracts blog.

            When Your Vendor Says 'Your Data Was Breached - Six Months Ago.'

            What's worse than a vendor that suffers a data breach that exposes your sensitive customer information? The answer: A vendor that waits almost six months to tell you about it...

            READ THE FULL ARTICLE: Download the attached PDF

              How to Break Up with Your Vendor

              Hello, Bankers! Today we are discussing how to make the dreaded vendor breakup as smooth as possible. This post originally appeared on the Ncontracts blog.

              How to Break Up with Your Vendor

              There may be 50 ways to leave your lover, but when it comes to ending a relationship with a vendor there’s really just one path to follow: the documentation in your service level agreement (SLA)...

              READ THE FULL ARTICLE: Download the attached PDF