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#2235155 - 04/17/20 07:41 PM DDA - Interest Bearing Accounts - Reg D
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Diamond Poster
Joined: Nov 2008
Posts: 1,062
In the mountains
Is it appropriate/compliant to include the following on a demand deposit account that is interest bearing but not a NOW account?

> We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal from an interest bearing account.


Thanks in advance.
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#2235160 - 04/17/20 07:57 PM Re: DDA - Interest Bearing Accounts - Reg D Likes to Comply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,959
Galveston, TX
No - that makes it a NOW account. A demand account is payable on demand.
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