Latest Operations - Fees Topics

Notice 45 Days in Advance for Fee Changes?

12/01/2019

We are currently in the process of changing our fees. Some fees may increase and some fees may decrease. With that said do we still need to send a notice to customers 45 days in advance of the changes?

30 Day Waiting/Vetting Period Prior to Granting OD

12/09/2018

My bank has a 30 day waiting and vetting period prior to us granting overdraft service. We do not have overdraft services that come with the account but rather it is our practice to offer an OPT-IN to Standard (payment of checks, ACH.) and then we offer another opt-in to Extended Service which allows the payment of ATM and one-time POS into overdraft under Regulation E. In this example, the customer opted in to both Standard and Extended Service. Customer received the Regulation E confirmation notice. Without waiting the 30 days initially disclosed, my bank immediately paid into overdraft ATM and Debit card charges and fees but returned the checks that came through as insufficient. Once the 30 day vetting period for this customer had expired, they denied the customer for overdraft service but continued to allow only Extended service, ATM and One-time debit payments and charges to go through. It is my understanding that the Extended Service under Regulation E is pursuant to the overdraft program offering and not to be used as a stand alone service outside the overdraft program. If we rejected the customer for our overdraft service, shouldn't that include all transactions?

Deposit Account Fee Change: Advance Notice

09/23/2018

We have an upcoming deposit account fee change requiring advance notice to affected account holders. If we know we have a bad address (statements have been returned), are we required to mail the notice to the last known address?

Charge MMA Per Item Fee?

06/17/2018

Can we charge a Money Market account a per item fee for each item that exceeds the allowable 6 withdrawals per month?

Can Savings Account be Charged an NSF Fee?

06/10/2018

Can a savings account be charged an NSF fee?

Customer OD Acct. at Teller Window Up to Limit?

11/26/2017

Should a bank allow a customer to overdraw their account at the teller window by letting them withdraw any amount up to their OD limit and also charge them the normal OD Fees?

Charging Fee to Issue Cashier's Checks

05/22/2016

I am processing a Small Estate Affidavit that will require the bank to issue several cashier's checks to beneficiaries. Normally the bank charges a small fee to issue Cashier's Checks. Is there a problem charging a fee to issue cashier's checks from a deceased account holders account to pay the beneficiaries.

Debit Card and Online Banking Inactivity Fees

01/31/2016

Our Retail Division is getting very creative in coming up with fees that we have not charged in the past. I understand that dormant/inactivity fees are defined at the State level and are allowed on accounts advertised as "free." Would the same hold true for debit card inactivity and/or online banking inactivity fees? Would these fees be allowed on "free" accounts if properly disclosed? I have the same question for return mail fees.

OD Fee for Paid Checks vs Return Checks

10/26/2015

Can the fee on overdrafts for paid checks vs return checks differ? Such as $25 fee for paid OD's and $30 fee for return.

Charge for Electronic Statements

09/27/2015

If a customer has electronic statements, is the bank obligated to provide, at no charge, a printed statement to the customer upon their request?

Vendor Guru Q&A - Operations

Operational challenges of multiple check processing systems

Self-service ECM capabilities

Challenges of system fragmentation for item processing

Imaging solution consolidation

Lockbox services and accelerated cash flow

Benefits of two-way document exchange with account holders

Benefits of OCR for document management

Benefits of image-enabled ATMs/ITMs

Electronic lockbox

Real-time check processing and fraud

Offset rights when cashed check bounces

02/23/2025

Per bank policy, we have always stated that if we cash a check for a customer (it is never deposited into their account) and the check is returned, we cannot offset their account for the returned check. We (the bank) have always thought this was a regulation, but cannot find it anywhere. Is a bank permitted (or not) to debit the customer's account when a cashed item is returned?

When a Customer Dies

02/23/2025

I am just wondering if anyone has a process for when a customer passes away. Is there a care package sent out? Or a letter notifying the other account owners of their options? Or, in the case of a single owner, a letter sent to the last known address with options? I am looking to not have such a detached process. Our customers are like family at the bank I work for.

Self-service ECM capabilities

02/23/2025

What are some examples of “self-service” ECM capabilities?

Challenges of system fragmentation for item processing

02/16/2025

What are some drawbacks of maintaining multiple platforms for item processing?

Responding to Social Security information requests

02/16/2025

A previous manager who left our bank previously signed up to receive SSI 4641 requests electronically. We have been getting emails from the service about these requests, but we are trying to find out if we are required to respond. I read that it's legal for the Social Security Administration to request this information, but couldn't find anything stating that banks must comply,especially since i have seen that majority of the types of requests can be fake or won't have customer authorization attached to them. Are we required as a financial institution to comply with these requests?

Latest Operations - Fees Topics

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