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#614930 - 09/19/06 02:34 PM Higher rate on NOW account ?
lisa Offline
Gold Star
Joined: Aug 2001
Posts: 264
Gainesville, TX USA
The Bank is competing with other markets for a particular business account. Does the reg prohibit paying a higher rate on any specific commercial NOW account in order to compete for their business?

Thanks,

Lisa

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Deposits and Payments
#614931 - 09/19/06 03:17 PM Re: Higher rate on NOW account ?
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
No, but normally commercial (i.e. for profit) and NOW do not go together.

Al
_________________________
Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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#614932 - 09/21/06 02:30 PM Re: Higher rate on NOW account ?
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,750
On the Net
As Al noted, you can clearly compete for business with rates, fees and services. That is part of the free market society. Internally you have to be able to handle these "tweaks" in your systems.

I also agree with "commercial" and NOW as being a very limited scope as NOW account ownership is very restricted.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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