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#29217 - 08/23/02 08:10 PM fee for dormant accounts
Anonymous
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Is it industry practice for banks to charge a dormant fee on all dormant accounts regardless of the balance in the account? We currently only charge a fee if the balance is less than $100.

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Audit
#29218 - 08/23/02 08:13 PM Re: fee for dormant accounts
Lestie G Offline

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Joined: May 2002
Posts: 3,605
Near the Land of Enchantment
It's not allowed in some states. We charge a fee while it's 'inactive' - but our state law forbids charging a fee when it goes dormant.
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#29219 - 08/23/02 09:27 PM Re: fee for dormant accounts
Anonymous
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Thank you, I will check it out with my state.

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