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#827236 - 10/02/07 03:29 PM Inactivity fees charged on account held by a trust
gadawg1 Offline
Gold Star
Joined: Sep 2006
Posts: 419
Georgia
Does anyone know of any prohibitions against charging an inactivity fee on a checking account held in the name of a trust?

Currently if there is no activity for 60 days in a checking account then the account is charged an inactivity fee.

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#827248 - 10/02/07 03:45 PM Re: Inactivity fees charged on account held by a trust gadawg1
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
So long as you don't exceed usury rules, you should be fine...I don't really understand the concept of inactivity fees, however, in most instances...I'd rather have the money on the books than to run someone off just because they aren't USING it~ (just my 2 cents)
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My opinion only. Not legal advice.

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#827532 - 10/02/07 07:31 PM Re: Inactivity fees charged on account held by a trust RR Joker
gadawg1 Offline
Gold Star
Joined: Sep 2006
Posts: 419
Georgia
Thanks for your response and I agree totally, does not make sense to me but who listens to the compliance officer!!!

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