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#1317809 - 01/05/10 05:21 PM VISA ISA fees
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
To date we have absorbed Visa's ISA currency and international trans fees (the 1% or .80%) We have decided to joing evey other bank and will start charging the fees once:
1. we send a 30 day notice
2. we change our disclosures

Now, I am looking for assistance in determining how these fees are to be displayed on our customers' statements. Any links to where that is clarified will be most helpful!

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Operations Compliance
#1321275 - 01/08/10 07:54 PM Re: VISA ISA fees Trees
Gotwood Offline
Platinum Poster
Joined: May 2001
Posts: 715
We call them Cross Border Fees. Our disclosure says this is a fee for a transaction initiated outside the United States.

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#1321311 - 01/08/10 08:15 PM Re: VISA ISA fees Gotwood
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
Thank you. Do you have to show a fee for each trans. or do you simply add your cross border fee total at the end, prior to the totals?

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#1323895 - 01/13/10 06:58 PM Re: VISA ISA fees Trees
OkieDokie Offline
Junior Member
Joined: Jan 2007
Posts: 45
Oklahoma
Our Bank is also looking at these fees. We have a general EFT disclosure that mentions "ATMs not owned by us and their related fees including network" We also initially disclose the 1% international transaction fee. Does anyone know how this is calculated? Periodic statements have a description of the fee, is this enough?

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#1384022 - 04/29/10 09:32 PM Re: VISA ISA fees OkieDokie
CalifDreamin Offline
Diamond Poster
CalifDreamin
Joined: Mar 2002
Posts: 2,228
Far from Calif
I have a question related to this fee. We were absorbing it before on our debit cards, but will now be passing it along to customers. We were going to include the fee language on our Reg. E dislosure and give notice to our customers of this change. Reg. E requires 21 day notice. Do we also have to list this on our TISA fee disclosure and actually give 30 day notice of the change? In looking at the fees that DD requires you list, I'm just not positive it fits into any of the types of fees DD requires you to disclose.

What I was told is that this fee is .8% for all foreign (international) transactions, and 1% if there's a currency conversion involved.

In looking at the disclosures at some other banks, I'm seeing it on their Reg E disclosure but not in their normal account service fee disclosure.

Thank you for your input!
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