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#1069559 - 10/23/08 06:46 PM Subs. Disc. for Increase in Wire Transfer Fee
DDPAND Offline
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Joined: Dec 2006
Posts: 207
I know you need to give a 30 day advance notice requirement for a increase in a fee (such as a an increase in an overdraft fee), but how about an increase in a wire transfer fee?

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#1069575 - 10/23/08 07:04 PM Re: Subs. Disc. for Increase in Wire Transfer Fee DDPAND
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
Yes, you are required to give the 30 day advance notice to all consumer customers.
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#1069582 - 10/23/08 07:08 PM Re: Subs. Disc. for Increase in Wire Transfer Fee Skittles
Anonymous
Unregistered

In order to have written proof to Senior Management - This is as per 230.5(a) and 230.4(b)(4)of Regulation DD?

Thanks

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#1069669 - 10/23/08 07:58 PM Re: Subs. Disc. for Increase in Wire Transfer Fee Anonymous
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Duchess - I didn't think the wire fee was a required fee disclosure under Reg DD. Wouldn't notice of change timeframe be driven by customer agreement? (Although I think 30 days is a best practice.)
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#1071089 - 10/27/08 02:25 PM Re: Subs. Disc. for Increase in Wire Transfer Fee BrendaC
Anonymous
Unregistered

Is there a 30 day requirement for changes on a commercial deposit product?

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#1071109 - 10/27/08 02:35 PM Re: Subs. Disc. for Increase in Wire Transfer Fee
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
Regulation DD does not cover commercial accounts.
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