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#1724524 - 07/27/12 08:04 PM Periodic Statements Aggregate Overdraft Charges
CompRegs Offline
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Joined: Feb 2012
Posts: 17
We are looking at redesigning our statements. I was told that the industry is no longer including the box with the OD charges and YTD OD Charges on statements if the customer has had no OD charges. It seems that it would be beneficial to the customer to have this information on the statement even if it is "zero".

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#1724542 - 07/27/12 08:19 PM Re: Periodic Statements Aggregate Overdraft Charges CompRegs
tdogz Offline
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tdogz
Joined: May 2012
Posts: 229
I just checked... as of last Friday when my statement cut, we still had the boxes, even if they are all zeros.

I wouldn't be surprised this is suggested at my bank though - we have an officer who is trying to find ways to shorten our statements.

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#1724561 - 07/27/12 08:35 PM Re: Periodic Statements Aggregate Overdraft Charges CompRegs
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
I can only say that the grid doesn't have to be there if the customer has had no fees to be reported in the grid for the year, and the current month portion doesn't need to be there if there are some past fees but none for the current month. If omitting the box means one less page in 5% of your statements for a month (those are total SWAGs on my part), what are the savings in paper and postage?
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#1724570 - 07/27/12 08:49 PM Re: Periodic Statements Aggregate Overdraft Charges CompRegs
BrianC Offline
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BrianC
Joined: Nov 2004
Posts: 6,318
Illinois
John, think of the "massive" savings in toner not having to print the boxes on all those statements!
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#1724571 - 07/27/12 08:54 PM Re: Periodic Statements Aggregate Overdraft Charges CompRegs
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
No so much. Offset the savings against the extra time taken to 'splain to the examiner why the grid doesn't have to be there or be complete. Net savings: zero. Getting a chance to prove an examiner wrong: priceless.
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