Deposit Hold
Hold reasons that include risk, fraud, or possible return from the paying bank are eligible to be released.
True or False?
FALSE
Should we engage the Extended & Risk Hold Detection Hotline?
Yes or No
NO
What path will help you with Return Item chargebacks?
Service a Return Item Chargeback Inquiry
What path will assist you in knowing more about a Deposit bonus/ offer?
Access or Research a Deposit Offer
What is the return item reason code for Code 1?
Insufficient Funds (NSF)
For what amount will a standard hold be placed on a deposit?
$6,725
Sometimes it is appropriate to suggest the hold may be released early or ask the client to call back?
True or False
FALSE
Where in CEW can you get more information about a returned item chargeback?
By selecting Return Item Look-up Tool from the Web References dropdown.
How long may it take before an account number/ offer to appear in CIS?
14 calendar days
What is the return item reason code for code 7?
Refer to Maker
What are two ways clients can avoid a future deposit hold?
Direct deposit or mobile and online transfers is a great way to get access to your funds faster
In the path, how many different talking points are there and what are they?
How long will it take the bank to get a return notice when the item in question is still processing?
within 5-7 business days
Where in CEW/ synergy Web can we access CIS?
Select Customer Incentive System from the Account Services side panel.
What is the difference between looking for a return item charge back and a adjustment when viewing the account.
AND
Adjustment is when there is a correction on a deposit made.
Fraud is more likely to occur when account relationships are new (generally under 90 calendar days)?
True or False
TRUE
Hold lengths are always calculated in business days (Monday through Friday, excluding bank holidays)?
True or False
TRUE
What will you do when the client request a copy of the returned item and it has been more than 10 business days since item posted?
What does it mean and what can we share with client when we see they have a Qualified status on their offer?
Client is qualified for the incentive. Typically, the client is paid within a few weeks of qualifying, but it can take up to 60 calendar days depending on a variety of factors.
What path will help with viewing a adjustment and getting more info?
View a Correction Notice - ImageView
Multiple and/or recent return items indicates a pattern that reinforces the need to keep the deposit on hold.
True or False
TRUE
If a client has had repeated overdrafts on the account, for how long will the bank review the account to determine to place a standard hold?
6 months
How much does BofA charge for a returned item fee?
The Returned Deposited Item fee was eliminated in March 2022 for all clients
What are the different ways to Search for a inquiry from the dropdown list?
When searching for a Deposit correction notice, how long or short can the date range be when searching?
Note: Date range cannot exceed 90 days.