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#718044 - 04/18/07 05:06 PM ODP
cmh Offline
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Joined: Sep 2005
Posts: 5
If we are increasing the amount of overdraft protection available to our customers, do we have to give them 30 day notice of that increase? Being that this is not an adversary thing for the customer because we are increasing their ODP amount but it could cost them more in NSF fees. We have printed the notice of increase on their statements and are ready to make the change but what is the opinion, do we need to give them 30 day notice on this???

Thanks for your input!
cmh

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#718098 - 04/18/07 06:08 PM Re: ODP cmh
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
A piece of advice - you might want to document the reason for the increase and why it's beneficial to the customer. That way when you are examined your regulator will know it wasn't just so you would earn more fees. This is what we did at my last employer.
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#718318 - 04/18/07 11:36 PM Re: ODP Skittles
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
Skittles is correct. Make sure your call reporting also gets adjusted.
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#718383 - 04/19/07 12:24 PM Re: ODP cmh
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
...but no advance customer notice is required.
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