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#623213 - 10/11/06 05:47 PM Interest Payment on Time Accounts
Compliance Audit Offline
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Joined: Mar 2005
Posts: 200
Is it a requirement for intrest on a time account to be payable by check (as an alternative to coumpounding depositing to another acct. etc.), and if not, if a customer requests a check can a bank assess a charge for producing a check for the customer?

Thanks

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Deposits and Payments
#623214 - 10/16/06 04:23 AM Re: Interest Payment on Time Accounts
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
There is no requirement to allow payment by check - you could charge a fee, but it would have to be properly disclosed.
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