Let’s say you’re operating the social media accounts for your bank and want to create a promote your free checking on Instagram. This isn’t a boosted ad, just a normal post on your IG profile. This is tricky situation, because you have a feeling that you need to include a link to the terms within your post in order to be compliant. And you’d be right. The law requires that the terms and conditions governing the products and services featured in your post must be easily accessible, in a clear and conspicuous manner, and should be found no further than one click away. So, how do you maintain your bank’s social media compliance?
Let’s first take a look at the problem: the challenge here is that Instagram doesn’t allow users to add clickable links in their posts. This doesn’t just apply to your bank’s business accounts, but to all Instagram users. While you could spell out a link in the text, the link can’t be clicked on, so this won’t comply with the law since the terms must be found within one click. So, what’s a bank’s social media manager to do?
To evaluate our solution, we must enter the void between the law and technology. Banks are absolutely allowed to advertise their products via social media, but the law requiring that the terms be easily accessible was created before Instagram existed. It therefore doesn’t take the limitations of this social network into account. Let’s the options you have for maintaining social media compliance at your bank so that you can decide the best path forward:
Option 1: Place the URL in the Text of the Post
This option follows the letter of the law by posting the link in the same post as the free checking terms. The terms would also be clear and conspicuous. So, at first blush, this sounds like a good option. But your followers cannot access the terms by clicking the link and would have to type in the URL to access them. This violates the intent of the law because the terms are no easily accessible. Just imagine having to type in www.YourBanksName.com/Checking/FreeChecking just to find the terms. That’s hardly easily accessible. So, while this option seems legit, it doesn’t follow the spirit of the law.
Option 2: Write “Learn More: Link in Bio” in the Post, and Include the Link in the Bio
I can already hear you saying, “this doesn’t comply with the law – you’d have to leave the post to find the terms. In other words, it’s more than one click away.” You’re right, but it does provide users the ability to easily find the link – and it is a common practice when using a link on Instagram. In fact, it’s the only option that Instagram provides to embed a link on an organic post. The problem here is that people who visit your profile will find the link to the free checking terms instead of your bank’s homepage. This could create a less-desirable user experience and annoy potential and current customers who have not seen your free checking post and just want to learn about your bank.
Option 3: Consider a Technology Solution such as Link Tree
One outside the box solution is to use a service called Link Tree. Link Tree allows companies to create one link that can be placed in their Instagram bio that houses several other links. Once a user clicks on the Link Tree link, they are presented with a page where several links can appear. The links can include links to your website’s Homepage, free checking terms, or any other products or services. This is a creative effort to comply with the law and manage your user experience, but it’s not a perfect solution. Not only is the link not within the post, it’s also likely three clicks away (one click to your bio, one click to the link tree, and then another click to the checking terms).
As you can tell, posting on Instagram can be complicated if you’re a bank. While there’s no one size fits all approach, your bank needs to choose an option that appropriately manages risks and rewards. That’s why you need a social media attorney for banks on your side. Contact us here at The Social Media Law Firm if you have any questions and let us guide you through the ins and outs of social media compliance for banks.
