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#2226176 - 11/22/19 03:36 PM Commercial Analysis - disclosing
CalifDreamin Offline
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CalifDreamin
Joined: Mar 2002
Posts: 2,262
Far from Calif
Good morning and Happy Friday!

I know these might seem like odd questions, but here goes…

1) Are your new accounts reps/personal bankers the ones opening these accounts, or is it someone else (e.g. treasury management officer)?

2) Although not covered by Reg DD, do your banks provide fee disclosures at account opening for commercial analysis checking accounts?

3) Are those provided at account opening by a new accounts rep opening the account or by some other person/at some other point in the process? (maybe after opening, the fees are discussed/negotiated with a treasury management officer who then provides the fee disclosure?)

4) Are those analysis fees negotiated by an account officer, and if yes, if you are providing a fee schedule at account opening, how is that then provided accurately? Does the new account rep or account officer simply make those changes on the disclosure itself and that is what is given at account opening?

Thank you for any input you may have on this.
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General Discussion
#2226239 - 11/24/19 11:14 AM Re: Commercial Analysis - disclosing CalifDreamin
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
1) Hard to answer - all banks have different types of set-up for departments and responsibilities.

2) No sure how you contract for fees if they are not disclosed and incorporated into the business depositor's account agreement.

3) See #2

4) If you separately negotiate each account, I would think it would become a maintenance/pricing nightmare. Who is responsible for the internal controls to ensure that system match what was disclosed and then adjusted on an individual basis?
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#2226255 - 11/25/19 03:03 PM Re: Commercial Analysis - disclosing CalifDreamin
CalifDreamin Offline
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CalifDreamin
Joined: Mar 2002
Posts: 2,262
Far from Calif
I agree, Randy especially on #4. We've always disclosed, had a set fee schedule (other than those that officers might waive), etc. However, you get new people in with new ideas, "we are the only bank who does it this way" comments, etc. and so you have to put your feelers out and see how others are handling it in case you really are being closed-minded, difficult, and not open to new ideas.
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#2226290 - 11/25/19 08:03 PM Re: Commercial Analysis - disclosing CalifDreamin
Rocky P Offline
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Joined: Jun 2003
Posts: 7,650
Florida
Calif, the comment
"we are the only bank who does it this way" comments, etc. riled me. Usually there is no basis. Sorry for the rambling, but the following is for all types of accounts/relationships.

You have to pick and choose your battles.
First, not everyone else does it different.
If every account were handled differently, life would be a servicing nightmare.
A bank (or any other company), cannot be all things to all people. Stick with your strengths and market those. Too many good places have gone under because they wanted to make everyone happy with everything.
The more options you have, the less profit you'll make, the more mistakes you'll have. Cannot give away the store.
The more potential options, the greater the chance for treating people differently. Once that happens, the disadvantaged customers will go elsewhere and badmouth you. If it is a loan account - the next step in the argument, and the disadvantaged customers (ones who did not get the breaks) were protected classes, the bank has disparate treatment.
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#2226299 - 11/25/19 08:55 PM Re: Commercial Analysis - disclosing CalifDreamin
CalifDreamin Offline
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CalifDreamin
Joined: Mar 2002
Posts: 2,262
Far from Calif
I absolutely agree, Rocky! I was told I needed to see how other banks were doing this ..
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