PRODUCT SPEFIFICATION
Same day ACH is not available for all ACH customers.
True or False
False
Clients who are set up for ACH will automatically have Same Day capabilities
What types of businesses are good for ACH?
Sole proprietorship
Single member LLC
Any business client who uses checks for payables
Any business client who uses checks for payables
what needs to be filled out to onboard client?
A) Cash Management Application
B) Cash Management Agreement
C) Supplemental Online Banking
D) A & B
D) A & B
A) Cash Management Application
B) Cash Management Agreement
Maximum amount that can be sent as a same day ACH?
a) 10,000.
B) 100,000.
C) 1,000,000.
c) $1,000,000.00
OBTC does not charge for Same Day ACH
True or False
TRUE
What the benefits of doing wires online verses in Branch?
a) cost
b) speed
C) no forms to fill
d) all of the above
d) all of the above
What is the cost for a client to have ACH & Wire service?
$15.00
$25.00
$50.00
$50.00
What are the Cutoff Times for ACH services?
10:00 am (same day)
1:00 pm (same day)
5:00 pm (last batch is processed at 5:00 pm)
How often are ACH and Wire limits reviewed?
1. 365 days
6 months
3 months
Depends on clients ACH exposure limit
4. Depends on clients ACH exposure limit
High Risk is over $100,000. in exposure
Medium Risk is from $25,000. to $99,999.99
Low Risk under $25,000.
Can clients send international wires on online banking?
A) yes
B) no
C) depends what types of currency they are sending wires in.
C) depends what types of currency they are sending wires in.
Do Business with both Bill Pay and Positive Pay need to upload check issued from Bill Pay system?
Yes
What happens if the client needs to increase their limits one time to process an ACH?
A+25% Buffer is put in place for all clients: The RM can email CM Support and have the limit temporarily increased so the client can process the transaction. Should the client need the limit permanently increased a revised CM Application must be completed.
If a client has not used the ACH service within the review period, their limits will be decreased to?
A) $1000.00
B) $0.00
C) 10,000.00
C) $10,000.00
What is the price difference between online wires verses in branch?
In Branch Domestic - $25
In Branch international - $50
Online domestic - $10
Online international - $35
Which client industries most frequently uses ACH services?
Municipalities
Attorney’s
Title Companies
Wholesalers
Distributors
Property Managers & Landlords
Small Business who do not use a payroll company but want to offer their employees direct deposit
Which service cost more ACH or Wire?
Wire