Return Deposited Item Fees

I'm at an F.I. in Illinois and as I understand it, I can charge consumers whatever I want on return deposited items, but I may not exceed $4.50 on a commercial account. Anyone out there from an Illinois Bank understand this the same way?

You might want to try the Illinois forum.

http://www.ilga.gov/legislation/ilcs/ilcs4.asp?DocName=081000050HArt%2E+3+Pt%2E+8&ActID=2301&ChapterID=66&SeqStart=31200000&SeqEnd=31400000


Illinois Uniform Commercial Code Section 3 - 806 governs this and yes, the $4.50 maximum applies on commercial accounts.

And just so you know, you can't charge consumers "whatever you want". You are limited to $25.00 a few paragraphs above the $4.50 limit on commercial accounts.