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#2013540 - 05/12/15 03:41 PM Free Checking - TIS Disclosure
Dallas Fan Offline
100 Club
Joined: Feb 2008
Posts: 219
Is it required to have a TIS Disclosure on a Free non-interest bearing account?

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Deposits and Payments
#2013572 - 05/12/15 05:34 PM Re: Free Checking - TIS Disclosure Dallas Fan
BrianC Offline
Power Poster
Joined: Nov 2004
Posts: 6,501
Yes. Although many of the disclosure requirements regarding interest do not apply, you must still include things like minimum balance to open account and schedule of fees,(i.e. overdrafts, stop payments, etc.)
Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!

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#2013608 - 05/12/15 06:41 PM Re: Free Checking - TIS Disclosure Dallas Fan
GuitarDude Offline
Power Poster
Joined: Nov 2004
Posts: 5,925
So Cal
And if you use the word "free" in the account name or marketing materials, double, triple and quadruple-check everything because regulators will be drawn to it like a moth to a flame.
I've just writed a wrong.

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