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Are accounts that waive fees or provide fee reducing credits eligible to be considered “non-interest bearing” under the TLGP?

April 26, 2017accounts Credits eligible fee fees non-interest bearing reducing waive

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Are accounts that waive fees or provide fee reducing credits eligible to be considered “non-interest bearing” under the TLGP?

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Yes. Such account features do not prevent an account from qualifying under the Transaction Account Guarantee Program as a non-interest-bearing transaction account, as long as the account otherwise satisfies the definition.