While audio response originally mirrored the functionality of Online, the paths for those two channels have diverged greatly as home banking as grown and expanded over the past several years.  For example, while Online Banking offers an optional feature to allow members to update personal information online, no such equivalent feature exists in audio response. 

In looking through the features available in CU*TALK Audio Banking, there are just a couple of features that may be considered comparable to home banking from a risk perspective:

  • One is the ability to transfer funds to another member account.   As described in the CU*TALK Introductory/Startup guide, the Transfer Control feature can be activated to limit the accounts to which funds can be transferred, the same as with home banking.  With audio, the member must enter the other member's account number to transfer to.  If Transfer Control is activated and that account is not on that member's transfer list, the transaction is simply rejected as an "invalid account suffix."  Account numbers are not read to the member, nor does the system reveal the name or other information about the other member account.  Without Transfer Control, any valid credit union account number can be entered (but only to receive the funds). 
  • The other is the ability to request a check withdrawal.  Checks cannot be withdrawn from another member's account; only from one of the member's own sub-accounts, and the check is mailed to the address already on file for the member at the credit union (a different pay to or mail to address cannot be specified in audio response).

Both of these features are credit union-controlled.  That means you can activate them or not, your choice.  In the case of inter-member transfers, you can also choose whether or not to use the Transfer Control feature.