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#1725359 - 07/31/12 04:12 PM Service Charge/Statement Cycle
amberleigh Offline
Junior Member
Joined: May 2011
Posts: 34
Our savings accounts are on a quarterly statement cycle (unless there is ACH activity then it cuts monthly). We also currently service charge the account quarterly when the statement cuts if the balance drops below $100. My question is, is there any reason why we couldn't change it so the service charge is charged monthly at the end of the month, but the statement would still cut quarterly?

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Operations Compliance
#1725471 - 07/31/12 06:13 PM Re: Service Charge/Statement Cycle amberleigh
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,346
Cape Cod
That's OK, as long as you send out a change in terms to inform your current customers of the change.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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