What happens if conditions for obtaining a bonus are not met?

If the conditions for obtaining a bonus are not met, the logical outcome is that no bonus will be provided. The Truth in Savings Act (TISA) requires financial institutions to clearly disclose the terms and conditions associated with any bonuses offered on accounts. This includes specifying what actions or criteria must be met in order to qualify for the bonus. If a customer does not fulfill these stipulations, then the bank is not obligated to issue the bonus, as it would not be in compliance with the disclosed terms.

Understanding that the specific criteria must be satisfied helps clarifies why simply granting the bonus regardless of compliance or changing information at the bank's discretion wouldn't align with TISA’s standards for transparency and fairness. This reinforces the importance for consumers to be aware of the requirements needed to avoid any misunderstandings regarding bonus qualifications.