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#622856 - 10/09/06 09:46 PM Reg Q Premium
Last Mango Offline
Gold Star
Joined: Mar 2001
Posts: 293
Too Far From the Beach
We are planning a promotion where depositors will be entered into a drawing for making purchases with their debit cards. Some of these accounts will be demand deposits. Am I right in thinking that this is not considered a premium under Reg Q because it is not tied to the maintenance of a balance or duration of a balance? Or, does the fact that a person must have some money in the account to make a purchase trigger the premium rule?

Also, would this be considered a bonus for Reg DD?
Last edited by Last Mango; 10/09/06 09:53 PM.
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#622857 - 10/10/06 12:13 PM Re: Reg Q Premium
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,022
Galveston, TX
Not a bonus - not interest - possible lottery.
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