I have been reviewing our new accounts opening accounts procedures and need some help. Currently, all accounts, with the exception of Time Deposits, receive an EFT notice when account is opened. The EFT notices are identical. 1. Should all accounts receive the EFT notice? 2. If so, should they all be identical (language states "may"). I am looking for easy/quick answers. Thanks for your help.

If the accounts can have EFTs, I'd recommend the KISS process and make the disclosures.

For EFT purposes, the terms should be the same, unless you're offering different protections and terms for different accounts.

Now that consumers' checks can be converted to EFTs it makes sense to make sure that all consumer checking account customers receive EFT disclosures at time of account opening.

Do business checking accounts receive an EFT disclosure?

No - Reg. E applies to consumer accounts only.