If you have multiple types of checking accounts, and one of them does not meet the definition of free, can you do a TV commercial which says that we have free checking? We do have free checking - and we don't. Now I know that TIS says you can't advertise an account as free if it isn't, and this isn't advertising an account - but rather a type of account. I always thought that you couldn't advertise your checking accounts as free, if they weren't all free. But apparently, other banks are doing this, and therefore, I should be, too. ????

So, if I understand this right you have many different types of account buy you are advertising something like "Come see us at First National Bank. We offer mortgage loans, CD's, Free Checking and Safe Deposit!" ( Now you know why I am in compliance and not marketing )
Yes, you can advertise that you have Free checking as long as one of you checking accounts qualifies under TIS as a free account. It is the customer's choice if they choose to open a free account or go with another one.

We advertise our free checking account and we also have another account that is not free. I don't see what the problem is...you are advertising a specific account that you offer.

I have always been taught that it is only FREE if it is really free (in other words, you are not charging anything, no check charges, no overdraft charges, etc.) but if it is free from monthly service charges than you can say that -- Service Charge Free - or something like that. (And, I used to be in Marketing.....)

Opinions are mine and not necessarily those of my employer.

Sue -- Imposing a charge on a free account for NSF or overdrafts does not take away your ability to advertize it as free. The only fees that kill your use of "free" are those imposed if a minimum balance requirement is missed, a maintenance fee or an activity fee.

But ATM charges are not fees if the customer can access the account via other than the ATM. Certified check fees are OK, too. And charges for checkbooks are acceptable.

Take a look at the Commentary to §230.8.