If we wanted to work with a local company to boost the number of their employees who use direct deposit, I read regulation Q to allow us to do the following:

1. Offer an amount, any amount, upon account opening, if the customer also agrees to have their pay direct deposited. The amount would NOT depend on any balance or duration. Let's say we offer $100 for any of the company's employees who opens an account and agrees to direct deposit.

2. Offer that same $100 to any employee who is an existing customer and agrees to have their pay direct deposited. Again, there would be NO dependency on balance or duration.

Do I interpret correctly that we could make such an offer and that it would not be considered interest? Do any other regulations come into play?

It would appear that the bonus is for signing up for direct deposit and you should be in the clear.