§516.505
ActiveEntries in certain accounts for normal service charges
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Summary
Authorizes a U.S. financial institution to debit any blocked account held at that institution in payment or reimbursement for normal service charges owed it by the owner of that blocked account. Normal service charges include interest due; cable, telegraph, internet, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and 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.