TISA
"I am showing your OSA is at point five percent is that correct?"
That is correct our OSA is currently offering zero point five zero annual percentage yield
If a customer calls in wanting to open a new account and add a joint owner, what disclosures do we HAVE to read to the customer?
USA Patriot Act and FDIC Disclosure
A customer calls in wanting to know the cutoff time for an ACH and wire transfer, what is the time frame?
For a wire transfer the cutoff time is 4 pm ET and an ACH transfer cutoff time is 6 pm ET
In what order should you authenticate verification elements for a customer?
Last four of SSN
DOB
Secret word
Email Address (if needed)
CIF (if needed)
OTP ( where applicable)
Do we notify our customers when the rate changes?
True, we do notify them when it changes
Is it true that anytime a quote is given it has to be followed by APY?
No, it needs to be quoted with annual percentage yeild and APY once established.
Is it true that a call recording statement must be given just when a third party comes on the line?
No, a call recording statement MUST be given at the beginning of the call when a call did not come through the IVR, or immediately upon a third party joining the call
What is the proper timeframe for a customer who is closing an account via wire transfer that is over 125k?
For a closure it will take up to 3 business days, as the transfer amount does require additional bank processing.
Is it true that we do NOT have to authenticate every person who calls in?
No, we need to attempt to authenticate all customers
Describe the difference between an interaction note and a case note
Interaction notes are created when no follow-up work is requires to resolve a customer's call reason. Case are created when additional action is required to resolve a customer's request per the application procedure
True or false
Is it required that we quote to two decimal places?
True
When are we meant to read the statement delivery disclosure?
The statement delivery script needs to be read when an account is opened
Needs to be read when a joint is added to the account after opened
What is the time frame for a customer who linked an account via trail deposits?
It can take up to 3 business days for the amounts to arrive in the external account
How many responses can you accept for the customer's secret word
2
Marcus by Goldman Sachs allows Savings accounts to be opened in the name of a trust or other entity?
False, we do not permit trust and other entities to open an account.
Is it acceptable to always quote annual percentage yield throughout the call instead of APY?
Yes, if that is what the agent perfers
What is the disclosure for when a customer is closing an account?
Advise the customer that an account closure notification will be sent to them based off of their statement delivery prefences to confirm the account has been closed.
RA article - Account closure with a balance (#4)
What is the time frame for a wire over 125k that is initiated after cutoff time?
The transfer will take up to 3 business days
Is the statement below following authentication procedures?
No, that is not the secret word would you like the hint?
No we do not state that the customer is incorrect
Explain how interest is paid
Interest is compounded daily and credited monthly to your account. Interest is calculated using the daily balance method
What is the correct response to this statement
"I am showing your 7 month NPCD is offering a zero point four five percent (0.45%), the 11 month NPCD is zero point three five percent (0.35%0, and the 13 month NPCD is zero point two five percent (0.25%)?"
If you are reading a money movement disclosure, whats happens if you change a word, or add an extra number to the account number being read?
If not corrected, if a word was changed/added, or numbers added that were not there. It changes the meaning of the entire money movement. It is important to remember that all applicable disclosures must be shared accurately and correctly.
The time frame for a transfer over 125k it will usually be completed in up to 1 full business day as the transfer amount requires additional bank processing but could take up to 3 business days
Are you allowed to tell the customer, prior to authentication that their account/profile has been pulled up?
No, Do NOT advise customer that you pulled up their account prior to completing authentication. Instead advise you must verify a few pieces of information in order to locate the accounnt
Can you tell a customer specifically why their account was forced closed? What are some general reasons as to why an account may be force closed that you can share with the customer?
No we can tell them why. Reasons can be;
- Incorrect or misleading information provided when the account was opened
- Maintaining an overdrawn account
- Potentially illegal or fraudulent activity