First, I apologize that this is a very basic question. We recently lost our deposit compliance expert and I am fielding the calls!

Management wants to increase the cash and transaction limits on our debit cards. They will change the account disclosures for new accounts. ARE ANY NOTICES REQUIRED TO EXISTING CUSTOMERS?

Logic tells me that we are not required to notify existing customers, since this is a benefit to the customer, not a new or increased fee. However, logic and government seldom mix!

Thanks for any assistance you can provide!

Reg E EFT disclosure will need to change triggering a notice to existing customers. You can probably handle with a statement message if you have that capability.

Thanks Brenda!

We have the statement capability and had discussed using it anyway, since, what good does it do to increase the limits if your customers don't know that you did?