Skip to content

Paper Statement Fee for Money Market Accounts?

Can we charge a paper statement fee for Money Market accounts?

Randy Carey

Allowable fees are regulated at the State level.


Andy Zavoina

In many cases there is information you must deliver to the depositor in these statements. Is there a prohibition as we sometimes see, in a bank charging a fee to provide this required information? That is a key question in your State law requirements Randy refers to. Next ask yourself if this is a mechanism to drive accounts toward free e-statements and if all those customers have the ability to receive e-statements. If they do not, will you may instead drive those customers away. Fees can always drive a customer away. So there are pros and cons to consider in such a move but often, you can disclose and charge fees so long as there is no prohibition against the fee. This is a state issue though, and not federally regulated.

First published on 03/02/2015

Filed under: 
Filed under compliance as: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics