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Correct! This ad is not compliant

What is wrong with this ad?

This ad contains a few common errors. If this financial institution had been a Temenos Compliance Advisory customer these could have been easily avoided.


  1. If the bonus could apply to multiple product types, you may use a representative example. If it applies to interest-bearing and non-interest-bearing accounts, you should provide the APY disclosures for the interest-bearing account type.

  2. This is a very common mistake that institutions make as they include only the bonus disclosures and do not include the required disclosures for an interest bearing account. Here is an example of a compliant disclosure:  “To receive the GO-Pro, you must open any savings or interest bearing checking account with a minimum of $100 new money.  New money are funds not currently on deposit with Temenos Financial.  Bonus will be provided at account opening.  Account must remain open for 90 days or amount ($150) of Go-Pro will be deducted.  Bonus is limited to one per customer and is not available to employees of Temenos Financial.  Offer valid until December 31, 2018.  To open our Simply Savings Account, a minimum deposit to open and obtain Annual Percentage Yield (APY) is $100.  As of 10/1/2018, the APY is 0.50% and subject to change after account opening.  Fees may reduce earnings on the account.” 


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