§ 488.20

488.20 Options to promote security of electronic fund transfers. Sec. 20. In order to promote the security of electronic fund transfers, financial institutions shall make available to customers: (a) Options to limit the total amount of cash which can be withdrawn through the use of an electronic funds transfer terminal, from a customer's account in any single day. The options shall include, but need not be restricted to, a limit of $50.00. (b) An option to limit access through an electronic funds transfer terminal to 1 or more specified accounts. History: 1978, Act 322, Eff. Jan. 1, 1979