Charging for FDIC insurance coverage?

Posted By: opsgal2

Charging for FDIC insurance coverage? - 01/26/09 06:34 PM

With the increase in our assessment for FDIC insurance, our senior management is looking at assessing a fee to our commercial customers for FDIC coverage. I know this used to be a more common practice, but haven't heard of it for quite a while (at least in our market). Does anyone out there currently charge? If so, do you base the fee on average balance? And what's the going rate?
Posted By: YosemiteSamIAm

Re: Charging for FDIC insurance coverage? - 01/26/09 06:45 PM

What are they (senior management) going to do when their commercial accounts start banking elsewhere...?
Posted By: BrendaC

Re: Charging for FDIC insurance coverage? - 01/26/09 06:46 PM

I've seen it factored into the account analysis for commercial DDAs at several banks.
Posted By: opsgal2

Re: Charging for FDIC insurance coverage? - 01/26/09 07:45 PM

Originally Posted By: Coloradomountainman
What are they (senior management) going to do when their commercial accounts start banking elsewhere...?


Our overall service charge structure is competitive and we're not looking to gouge anyone. It's not like we're charging them to talk to a teller. laugh