Our bank offers electronic periodic statements (eStatements) to our customers who request it and consent. However, recently management has proposed to charge a fee for paper statements IF the customer elects to have eStatments AND also wants to continue to receive their paper statements.

Would changing a fee to give them paper statement (in these cases) violate our advertising of “Free checking” accounts?

The eStatement delivery agreement states that a fee “could” be charged. However, the fee amount is not disclosed, which is an other issue I would like opinion on.
Thank you

Ps, We do conform to the E-Sign act. That isn’t an issue.

I believe that is acceptable because it's completely the customer's choice. However, since you haven't disclosed a fee, I believe a 30 day notice may be required.

Would a fee need to be disclosed?

Required?
or
Good sense?

If the fee can be assesed to the account - whether voluntarily or otherwise, you need to disclose it up front to avoid both Reg DD and UDAP complications.

Thank you Randy.
If the fee is voluntary and occurs on an account that is advertised as “Free”, would this affect the “Free” status of the account causing it to no longer be “Free”?
Thank you friend

Does enrolling in eStatements un-enroll them from paper statements automatically? What action is taken to receive both, it seems kind of odd a customer would receive both...