Title 31 Part 548 → Subpart E → §548.505

Title 31 → Subtitle B → Chapter V → Part 548 → Subpart E → §548.505

Electronic Code of Federal Regulations e-CFR

Title 31 Part 548 → Subpart E → §548.505

e-CFR data is current as of July 19, 2019

Title 31Subtitle BChapter VPart 548Subpart E → §548.505

Title 31: Money and Finance: Treasury
Subpart E—Licenses, Authorizations, and Statements of Licensing Policy

§548.505   Entries in certain accounts for normal service charges authorized.

(a) A U.S. financial institution is authorized to debit any blocked account held at that financial institution in payment or reimbursement for normal service charges owed it by the owner of that blocked account.

(b) As used in this section, the term normal service charges shall include charges in payment or reimbursement for interest due; cable, telegraph, internet, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and, but not by way of limitation, minimum balance charges, notary and protest fees, and charges for reference books, photocopies, credit reports, transcripts of statements, registered mail, insurance, stationery and supplies, and other similar items.