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#63173 - 02/24/03 05:03 PM Service Fees
complyguy Offline
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complyguy
Joined: May 2001
Posts: 494
PA
Would anyone in southeastern PA (outside of the Philly area) be willing to share all or part of your service fee schedule? Ours has not been comprehensively updated for a while. Usually, someone here calls three or four banks within a very limited geographic area about one or two fees, but from posts that I have read on BOL, I feel that our fees are too low.

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#63174 - 02/25/03 03:58 PM Re: Service Fees
PABanker Offline
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PABanker
Joined: Dec 2000
Posts: 491
Blue Ball, PA 17506
Hi!

Please reply with what type of fees your interested in at this time.

Our bank has our Branch Managers or Customer Service Representatives go to other banks' offices as a customer for this information. I like to see how other banks formatt the information and the disclosures that accompany the fee information.

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#63175 - 02/25/03 04:46 PM Re: Service Fees
complyguy Offline
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complyguy
Joined: May 2001
Posts: 494
PA
Lela - I'm told that we did the same before I got here, but it was a very limited sample.

This whole process started with the notion of charging a fee for invalid Reg E disputes, because we've had an increase of customers making numerous claims of unauthorized transactions, and it turns out to be a transaction they did authorize. Since we would have to pre-disclose this new fee, someone (not me) thought it would be a good time for us (me) to grab the bull by the horns and update our whole fee schedule.

From some BOL threads, I've seen fee types that we don't even have, but I'm wondering if we should, since the services they pertain to are eating up more employee time.

I realize I'm just fishing here, because I really don't have time to go around (or even call) other banks to get their fee schedules. You know - Reg B revisions, waiting for the CIP shoe to drop, HMDA/CRA submission, STAR audit & policy/procedures, scheduled reviews, special projects, examiners coming,... - I know y'all know what I mean.

If you can help (thanks, JacFSB!), I really appreciate it. If not, I understand.

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#63176 - 02/26/03 02:50 PM Re: Service Fees
PABanker Offline
Gold Star
PABanker
Joined: Dec 2000
Posts: 491
Blue Ball, PA 17506
Hi!

Glad to help you. I did institute an "escheat processing fee for $75.00 that is legal in PA. Due to the increases of accounts falling into that category.

I do know we are starting a new process with our "VISA " debit cards for that very reason. We are signing up for the merchant verfication system VISA offers. You may want to look at a similar system from whomever sponors your debit cards as it may help solve the customer issues.


We looked at fees and made the changes recently. Send your address and I will mail the information. Thanks.

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#63177 - 02/26/03 06:23 PM Re: Service Fees
complyguy Offline
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complyguy
Joined: May 2001
Posts: 494
PA
Lela - Thanks for the advice about VISA.

I previously e-mailed your post about the escheat fee to appropriate people in our bank. I've tentatively put a slightly lower fee on our proposed revised fee schedule.

Thanks to all for your help!

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#63178 - 02/27/03 12:53 PM Re: Service Fees
Michelle III Offline
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Michelle III
Joined: Jan 2003
Posts: 379
PA
Another suggestion is to check some of the PA websites of the banks near you.

We use the website to post fees before we change our disclosure. It seams you no sonner get them printed and you have to make a change. It's always good to analize your fees before you print a new disclosure.

Hope that helps.

Michelle

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