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#835531 - 10/16/07 08:05 PM MSB Fees
J2C Offline
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
Do any of you charge your MSB's monthly or annual fees for operating as an MSB? If so, what amounts?
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#835536 - 10/16/07 08:10 PM Re: MSB Fees J2C
Milby Offline
Platinum Poster
Joined: Apr 2007
Posts: 953
Tejas
I too am interested in this. The last bank I worked for had VERY high monthly fees (like over $500/month + per item charges and change order fees)...more to disuade MSBs from opening accounts than to bring in fee income. The bank I am now working for has monthly fees that seem too low (<$20/month + per item + change order fees).

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#835945 - 10/17/07 02:19 PM Re: MSB Fees Milby
MagicCity Offline

Power Poster
MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
My experience has been a monthly service charge - in the $250.00 range, and all other charges higher than for the non high risk customer.
Hard charges such as Returned Item fees are also increased.
And a CD collateral is held for Large Item returns/losses.

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#836738 - 10/17/07 09:28 PM Re: MSB Fees MagicCity
BSA4LIFE Offline
Gold Star
Joined: Nov 2003
Posts: 284
California
We charge $75.00, plus higher regular analysis fees. Also with a CD collateral account based on their monthly deposit totals.

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#852115 - 11/09/07 02:40 PM Re: MSB Fees BSA4LIFE
J2C Offline
Diamond Poster
Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
does anyone else charge fees? If so, what is the breakdown and what is your asset size?
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My opinion is mine only- not my employer's!


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