The Business Debit Card Agreement (BDCA) allows users to specifyrules for the desired policy. Users can determineany limitations to each individual card holder by specifying them in the card application.
NOTE: If selecting Provide customtext, enter additional language necessary for this rule in the corresponding text box.
Select the Policies menu option and click the Policy button for the Business Debit Card Agreement option.
Click the OK button at any time to save the policy information and make it availableto OPPSA users; however, keep in mind that the policywill close and save the information when you click OK. You will have to go to the menu screenand open the policy again to make additional changes.
Enter the policy name. The Policy Name / Owner screen displays by default. Complete this screen and then click the optionimmediately under Policy Name / Owner, in this case Name/Security Procedures. Continue until you have completed each screen.
In the Enter the policy name field, enter the name of the new policy.
The Name/Security Procedures screen is used for the following:
§ Naming cards
§ Associating accounttypes with cards
§ Assigning transactions
§ Creating security procedures
In the Card Name section, select one of the following card types:
§ Business Debit Card (default)
§ Other
NOTE: If selecting Other, providethe business debit card name in the corresponding text field.
In the Account Types section,Describe the account(s) accessible using the businessdebit card in the corresponding text box.
Determine the Types of Transaction by selecting one of the following:
§ ATM Transactions (Using a PIN Only) (*default)
§ Point-of-Sale and ATM Transactions
NOTE: If necessary, click the PIN required for Point-of-Sale Transactions checkbox.
§ Other Transactions (e.g. Phone, Internet)
To establish any Security Procedures , click the There are security procedures in additionto a PIN, that are requiredto initiate transactions with the debit card checkbox; selectone of the following:
§ As provided in a separatefunds transfer agreement
§ Other
NOTE: If selecting Other, enter the securityprocedures in the Describethe security procedures for use of the businessDebit card textbox.
This screen allowsusers to configurethe following transaction types:
§ ATM Card Transactions - The optionson this screen are intended to cover types of transfers specific to a card that can be used exclusively at ATMs (no point of sale). For any card that allows point-of-sale transactions in addition to ATM transfers, the POS Card Transaction screen should be used. That screen collects all transfertypes related to the POS card, including both point-of-sale transfertypes as well as ATM access optionssimilar to those listed here for cards with ATM access only.
§ Point-of-Sale Transactions - The optionson this screen are intended to cover all of the types of transfers that can be performedwith the point-of-sale/debit card, includingboth ATM transfers and point-of-sale.
To allow accountholders to make deposits,click the Account holderscan make deposits checkbox; designatethe accounts for the deposits in the Account holderscan make depositsin the following accounts field.
To allow accountholders to make cash withdrawals, click the Accountholders can make cash withdrawals checkbox; designate the accountsfor withdrawals in the Account holders can make cash withdrawals from the followingaccounts field.
To allow accountholders to transferfunds, click the Accountholders can transferfunds
checkbox; determine the accounts to transfer From and To in the corresponding fields.
§ Click Add Additional Accountsto add additional From and To fields.
§ To deletea desired From and To field, place the cursorin the desiredfield; click Delete.
To allow accountholders to make payments, click the AccountHolders can make payments
checkbox; determine the accounts to make payments From and To in the corresponding fields.
§ Click Add Additional Accountsto add additional From and To fields.
§ To deletea desired From and To field, place the cursorin the desiredfield; click Delete.
To allow accountholders to obtainbalance information, click the Account holders can obtain balanceinformation checkbox; determinethe accounts to obtainbalance information in the Account holders can obtainbalance information about the followingaccounts field.
To allow accountholders to obtain withdrawal history,click the Accountholders can obtain withdrawal history; determine the accounts to obtain withdrawal history in the Accountholders can obtainwithdrawal history about the following accounts field.
To allow accountholders to obtain deposit history, click the Account holders can obtain deposit historycheckbox; determinethe accounts to obtain deposit history in the Account holders can obtain deposit historyabout the following accounts field.
To allow accountholders to obtain transaction history,click the Accountholders can obtain transaction history checkbox; determine the accountsto obtain transaction history in the Account holders can obtain transaction history about the following accountsfield.
To allow accountholders to make other ATM transactions, click the Other transactions at ATM checkbox; this option allowsusers to include transactions typesand accounts that may havebeen accessed as well as any special condition related to this type of transfer.
NOTE: If clicking the Other transactions at ATMs checkbox;Describe additional ATM transaction type(s) in the corresponding text box. Include the transaction type(s) as well as accountsthat may be accessedany other specialconditions relating to this type of transfer. Fees and dollaror frequency limitations shouldbe described in the user’s limits and fees policy.
Enter the types of accounts that can be accessible in the corresponding text box. Determine the types of point-of-sale transactions that can be with the POS card;select one of the following:
§ Purchase Goods;select any (or all) of the following:
§ In Person
§ By Phone
§ Online (internet)
§ Pay For Services
§ In Person
§ By Phone
§ Online (internet)
§ Get cash from a participating merchant or financialinstitution
§ Other Point-of-Sale transaction; describeany additional types of point-of-sale transactions that apply in the corresponding text box.
This screenallows users to determineregulatory language for the following:
§ Point-of-sale Card Brands
§ Foreign CurrencyConversion and Cross Border Transactions
§ Advisory AgainstIllegal Use
NOTE: If the POS card is a VISA or MasterCard-branded card,see options on other screens for card company-specific consumer liability and cross-border/currency conversion disclosure.
Select one of the following point-of-sale card brands:
§ Master Card
§ Visa
§ NeitherMaster Card nor Visa
To include foreigncurrency or cross bordertransaction processing rules, click the Include rules explaining how foreigncurrency or cross-border transactions will be processed checkbox.
Describe your policy in the corresponding checkbox.
NOTE: You may includeinformation about chargesor a reference to the applicable Fees and Limitspolicy.
If necessary, selectthe Include a statement advisingcard holders againstthe use of the card illegal transactions checkbox.Enter your policy in the corresponding textbox.
The Transaction Processing screen allowsusers to configurethe following rules:
§ MinimumAccount Balance
§ Order of Payment
§ Stop Payment
§ OverdraftLine of Credit
If applicable, selectthe We require accountholders to maintain balance as a condition of using the card (other than adequatefunds) checkbox. Enter the amount in the MinimumBalance Account textbox.
§ Describethe types of account(s) for which a minimum balance must maintained in the corresponding textbox.
Select one of the following to determinethe Order of Payment:
§ Card Transactions are paid in the orderreceived. The financialinstitution may pay the Card transactions before checks,drafts, or other debits.(*default)
§ Other
NOTE: if selectingOther, Describe the order of payment for card transactions in the corresponding textbox.
If applicable, select the Includea paragraph describing the practical limitations involved when stopping paymenton Card transactions checkbox.
§ If necessary, select the In the eventa stop payment is receivedin time to act on it, the stop paymentorder must precisely identify the date,time, location, and dollar amount checkbox.
§ If applicable, select The financial institution will not accept stop paymentrequests checkbox.
§ In the OverdraftLine of Credit section, you may chooseto allow a financial institution to offer a commercial overdraft protection program that a card transaction may trigger.
The Additional Terms screenallows users to configure the following:
§ Termination methods
§ Reg. D Transaction Limitations
§ Transaction Limitations
§ PeriodicStatement schedules
§ Additional Terms
§ Liabilityfor Unauthorized Transactions
§ Terminal Transactions
§ Point-of-Sale Reversal
§ Regulatory Authority
In the Termination field, determinethe termination parameters by selecting one of the following:
§ By writtennotice (*default)
§ Other termination notice
Determine how a business or entity can terminate this agreement by selecting one of the following:
§ By writtennotice (*default)
§ Other termination method
To include Reg. D transaction limitations, selectthe Include Reg. D transaction limitations in this BusinessDebit Card Agreementcheckbox.
§ In the corresponding textbox,enter any additional limitations that apply in the corresponding textbox.
§ In the corresponding textbox,enter your transaction limitations policy as it shouldappear in your Reg. E disclosure.
To establish any Transaction Limitations, selecteither of the following:
§ For securityreasons some limits may apply to the ATM utilization of this business debit card.
§ For securityreasons some limits may apply to the POS utilization of this business debit card.
To send monthly statements to certainaccounts but, click the Monthly statements are sent for the followingaccounts checkbox. Enter the Account(s) in the corresponding textbox.
To send monthly statements if a card transaction occurred in the past month when statements are sent quarterly, click the Monthly statements are sent if Card transaction occurred in the past month, otherwise Quarterly statements are sent for the following accounts checkbox. Enter the Account(s) in the corresponding textbox.
To send monthly statements if a card transaction occurred in the past month when statements are sent annually,click the Monthly statements are sent if Card checkbox. Enter the Account(s)in the corresponding textbox.
To describe a specificperiodic statement schedule, click Other; enter the periodic statement schedule and applicable accounts in the corresponding textbox.
To enter any AdditionalTerms, click the There are additional terms that are not disclosed elsewhere checkbox. Enter the additional terms in the corresponding textbox.
In the Liabilityfor Unauthorized Transactions section, selectone of the following:
§ Print Standard terms for unauthorized transactions based on the assumption that UCC Article 4a may apply option. NOTE: If you’ve indicated that the card is branded,the standard terms will also includeour understanding of VISA and MasterCard’s rules regarding additional limits on liability.
NOTE: This is the default selection.
§ Providestandard terms for unauthorized transactions as a basisfor customization.
NOTE: Enter the standard termsin the corresponding state-specific textboxes.
Enter the time needed to complete terminaltransactions by selectingone of the following:
§ Withdrawals will normally be completed
§ Enter the date for withdrawals in the corresponding textbox.
§ Deposits will normally be completed
§ Enter the date for deposits in the corresponding textbox.
§ Transfers betweenaccounts will normallybe completed
§ Enter the date for transfers in the corresponding textbox.
§ Payments will be completed by:
§ Enter the date for paymentsin the corresponding textbox.
Select one of the following:
§ Yes, a point-of-sale transaction can be reversedby
§ Enter the date of the reversalin the corresponding textbox.
§ No, a point-of-sale transaction cannot be reversed.
NOTE: Michiganlaw requires that noticeof state and federalregulators be given in the extent that the card holder believesthat the Michigan Funds Transfer Act has been violated.
Complete the following fields:
§ State Regulator
§ Address
§ City
§ State
§ Postal Code
§ Federal Regulator
§ Address
§ State
§ Postal Code
Enter the followinginformation:
§ Institution Name
§ Address
§ Address2(if necessary)
§ City
§ State
§ Postal Code
§ Phone Number
§ AlternatePhone Number (ifnecessary)
This screen allows you to determine the business days and hours.
Business days (according to Regulation E) are those days you are open for substantially all of your functions. Unlike the funds availability regulation (Reg CC), Saturdays and Sundays could constitute business days under Reg E if all departments are open for some period of time.
§ Indicatethe days of the week that your institution is open, for at least part of the day, for substantially all services in the corresponding textbox.
§ Selectthe following to determine any exceptions:
§ ExceptFederal Holidays
§ Other Exceptions
§ If selectingOther Exceptions, Describe any additionalholidays that you are closed on, or list exceptions to Federal Holidaysin the corresponding textbox.
§ Click OK to completethe Business Debit Card Agreement policy creationprocess. The policy is now available to OPPSA users.
For information on displaying, editing,copying or deletingpolicies, see Creating and Managing Policies, earlierin this section.