Does anyone out there charge their MSB customers fees for maintaining the account?

We're looking to start charging our MSB customers a fee to make up for the extra time and effort it takes to maintain the account. If anyone else does this, would you mind sharing what you do? We're not sure how much or how often we should charge this fee and I just wanted to see what some other banks do. Thanks for any help.

Is this above and beyond the account analysis charge?

I would think it would realy depend on the MSB and the amount of time it takes to police them and the risk they present. I have seen additional charges (in addition to the analysis charges) of up to $1,500 a month for high volume - high risk MSB accounts.

Yes. We have accounts that are charged monthly maintenance fees and per item fees, but these are standard for any business with these accounts. We are looking for an additional charge just for MSB customers.

As Randy mentioned, I've seen banks (a prior one) that had a MSB specific account with a monthly S/C of $500 or $1,500 (Based on item volume) - tells you something about these customers, that'll pay it -
1) - they have no where else to go, and
2) - they're making a lot of money off of their services.

We are charging a $75.00 monthly maintenance fee on top of the normal per item fees for our MSB account. Maybe I should suggest raising it to $1,500 in the hopes of becoming an income producing department. =)

We charge a $100 per month flat fee in addition to the analysis fees. We'd have to charge a lot more than that to even come close to what it's costing us to manage them.

Thank you all for the help.

I've seen a base fee of $400 per month for any customer that provides financial services (regardless of whether they are an MSB). That fee was supplemented by fees based on the number of items deposited plus fees for cash withdrawals. The cash withdrawal fee was $50 plus a percentage of the amount withdrawn. The bank required a $500 "research fee" in order to make a decision about whether to open a new account.

As this bank clearly undrestands, NBFIs require just as much monitoring as MSBs. The latter are actually a bit easier to document as you know exactly what they should be able to offer.