Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#65352 - 03/04/03 10:04 PM Interest Transfers
SJB Offline
Diamond Poster
SJB
Joined: Jun 2002
Posts: 1,210
California
I was reading a previous thread about transfers of CD interest to another bank and application of Reg E, etc.

I assume that the Reg E requirements do not apply if the transfer of interest is to another account of the customer at the same bank. [See: 205.3(c)(5)]
I also assume that this is not an ACH debit/credit since it is just intra-bank.
Correct?
_________________________
My opinions are not legal advice and are worth what you paid for them.

Return to Top
Operations Compliance
#65353 - 03/05/03 07:00 PM Re: Interest Transfers
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Steve: I know intimately the thrust of that thread, and you are absolutely correct about intra-bank interest transfers between accounts of the same customer.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top

Moderator:  Andy_Z, John Burnett