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When I open a deposit account, what kinds of disclosure does a bank have to make?

Before you open an account, banks must provide you with certain disclosures regarding their terms and policies. This enables you to make meaningful comparisons among banks.

The disclosures must be in writing and in a form you can take home. The bank must disclose information such as the following:

  • Interest rates
  • Crediting and compounding policies
  • Service fees
  • Balance computation method
  • Minimum balance requirements
  • Transaction limitations
  • Time requirements (if applicable)

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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