Acronyms
APY
What is Annual Percentage Yield?
This is the minimum deposit required to open a WesBanco checking account.
Who is Ulysses S. Grant?
Also known as the Expedited Funds Availability Act, this legislation was enacted in 1987 and established federal standards for quickly customers must receive access to deposited funds.
What is Reg CC?
This fraud scheme involves tricking someone into revealing personal or account information by posing as a legitimate institution, often via email or phone.
What is Phishing/Pig Butchering?
CTR
What is Currency Transaction Report?
The name of the savings account that features a combined statement and allows the client to avoid the minimum balance requirement.
What is Companion Savings?
Founded in 1913, this institution serves as America's central bank.
What is the Federal Reserve?
Also known as the Electronic Funds Transfer Act, this regulation was enacted in 1979 and established disclosure requirements, liability limitations, and error-resolution procedures for ATM, Debit card transactions and ACH, among others.
What is Reg E?
This is the e-form we should fill out if we notice unusual behavior of account activity, and is found on WesNet.
What is a PSAR (Possible Suspicious Activity Report)
CRA
What is Community Reinvestment Act?
The standard daily POS limit on a debit card attached to a WesBanco One account.
What is $3000
What is the $10,000 bill?
Also known as the Truth in Savings Act, this regulation was enacted in 1993 and include disclosure requirements for APY, account opening disclosures, and advertising rules
What is Reg DD?
What is kiting?
ACH
What is Automated Clearing House?
This is the term length of a WesBanco Home Equity Flexline.
What is 25 years?
This term describes the increase in value earned on both your original investment as well as previously earned interest.
What is compound interest?
No insider information here...this regulation was enacted in 1979 and is designed to prevent bank executives from using their positions to gain favorable loan unavailable to regular customers.
What is Reg O?
This scheme involves someone intercepting and altering a legitimate checking, often by changing the payee and amount.
What is check washing?
FDIC
What is the Federal Deposit Insurance Corporation?
The best advertised interest rate we offer.
What is 3.75% APY?
What is the Dow Jones Industrial Average?
What is Reg Z
If a debit card is lost or stolen, notifying the bank within this many business days of learning of the loss/theft keeps maximum liability to $50.
What is 2 days?