Do banks in the US transmit the signature to the bank when you sign on an electronic pad? Can the signature be retrieved later on if you query a transaction?
My understanding is yes, but they are never looked at unless requested. Planet money did a story on this last year[1], and recently re-ran it. The money quote from the article was when asking the expert if there was any consequence to signing some random picture as your signature was something along the lines of "No, except it may be somewhat awkward if you had to verify it in a trial for some reason."
Your question doesn't make much sense to me, but with what I've worked with _retailers_ do not send the electronic signature to the bank. It is for the retailers documents (ie to print on the receipt, or to store in a database with the transaction). In the case of a dispute they would then send the information.
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Do banks in the US transmit the signature to the bank when you sign on an electronic pad? Can the signature be retrieved later on if you query a transaction?
My understanding is yes, but they are never looked at unless requested. Planet money did a story on this last year[1], and recently re-ran it. The money quote from the article was when asking the expert if there was any consequence to signing some random picture as your signature was something along the lines of "No, except it may be somewhat awkward if you had to verify it in a trial for some reason."
1: http://www.npr.org/sections/money/2014/09/08/345820789/why-d...
Your question doesn't make much sense to me, but with what I've worked with _retailers_ do not send the electronic signature to the bank. It is for the retailers documents (ie to print on the receipt, or to store in a database with the transaction). In the case of a dispute they would then send the information.
Some payment network providers do provide electronic signature storage as a service for this purpose.