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#1658036 - 01/30/12 08:53 PM Deposit Correction Notices Required?
Theresa M Offline
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Theresa M
Joined: Mar 2007
Posts: 21
If we have to make an adjustment on a deposit account, we typically mail out a notice to let the client know of the adjustment. Is this practice mandatory at any amount? For very small dollar amounts, we'd actually spend more on postage than the total value of the adjustment. Just wondering if we can limit the notices to only be mailed above a predermined dollar threshold?

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Deposits and Payments
#1658136 - 01/30/12 11:23 PM Re: Deposit Correction Notices Required? Theresa M
Al Miller Offline
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Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
Even if required by the Commercial Code in your state, you can probably vary that by agreement. Modify you Deposit Account Agreement (next time) to indicate you will not send notices for less than $x and quit sending them.

Al
_________________________
Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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