Under the Illinois Consumer Deposit Account Act, every bank must offer a basic checking account to any person sixty-five years old or older. The minimum amount required to establish the account is $100, unless there is a written agreement with the customer that requires direct deposits of recurring payments due to the customer on at least a monthly basis. The account cannot have any other minimum balance requirement or any activity charge for at least the first ten checks drawn each month. However, the bank may charge its customary fee for a stop payment order for any transaction resulting in a check being returned due to insufficient funds.

As an aside, notwithstanding any potential for arguing federal preemption of this requirement with respect to national banks, we are not aware of any national banks that do not offer these accounts.