Fees
CPI
Transaction Limits
Trusts
Power of Attorney
100

Cost of Balance Transfer Fee

0.00 

(Deseret First does not charge a Balance Transfer Fee)

100

What does CPI stand for?

Collateral Protection Insurance (CPI)

100

What are the Swivel transaction limits? 

  • $1000 for card Transactions
  • $2500 for ACH Transactions

** This is firm set and cannot be changed

100

Can a POA be added to a trust account? 

A Power of Attorney (POA) will not be added to a Trust account. Contact Compliance (Ext. 7547) with specific questions and exception requests.

100

Does an attorney-in-fact have to qualify for membership to be added to an account?

The Attorney-In-Fact (AIF)/Agent does not need to qualify for DFCU Membership.

200

Cost of Cash Advance Fee

Cash Advances have a 1.5% fee for the amount advances. Interest on cash advances starts accruing immediately.

200

What are the ways the member can send in their proof of insurance?

1. Email

2. Upload to the Website

3. Fax

4. Mail

5. Call

200

What is the remove deposit capture limit?

$7,500 per member per day 

**Contact Center Management must approve exceptions for personal accounts 

200

What are the two main trusts that we deal with? 

SSN Trusts and EIN Trusts


  • SSN Trusts: A trust set up to report taxes under the SSN of the Owner/Trustor(s)
    • The Trustor, not the Trust will be the Primary on accounts
  • EIN Trusts: A trust set up with its own Tax ID Number (EIN) so that taxes are processed for the trust organization directly
    • The Trust, not the Trustor will be the Primary on accounts
200

Do we pull credit and precise ID for attorney in fact?

Credit and Precise ID are not pulled for an AIF

300

Cost of Foreign Transaction Fees

Foreign transaction fees - 1% 

A foreign transaction fee is a charge assessed by a financial institution to a consumer who uses an electronic payment card to make a purchase in a foreign currency. ... Foreign transaction fees are also called “foreign purchase transaction fees” or “foreign currency transaction fees.”


300

Once the "Welcome Email" is sent out requesting proof of insurance, how many days later does CPI get applied?

91st day.

  • Day 0 - Welcome Email sent requesting proof of insurance
  • Day 7 - Welcome Letter sent requesting proof of insurance
  • Day 28 - Email Notice
  • Day 35 - Mail Notice
  • Day 56 - Final Email Notice
  • Day 63 - Final Mail Notice
  • Day 77 - Attempted Phone Call to last known Insurance Agent by State National
  • Day 91 - CPI Certificate Issued, Fee added to Loan, and Payment Increased
300

What is the cross-member transfer limit (over the phone)?

$2500 

** This is firm set 

300

If you are adding a trust as a beneficiary, what do you need to fill out? 

Beneficiary Update Form

300

An Attorney-In-Fact/Agent CAN do what?

  • Perform transactions
  • Request Person Maintenance (Address, Phone number, Email address, Statement preferences, etc.) for the principal
  • Close an account
400

How are minimum payment calculated?

Calculated as 3% of the month-end balance or $25.00, whichever is greater.

400

Premiums are charged in __-_____ terms and are added to the principal balance of the loan

12-month

400

What are the shared branching limits? 

$2,500 over the phone transfer

$50,000 - Official Check Limit

** Up to $5,000 can be given (or transferred over the phone) after you have followed identification procedures and called the account owner using the phone number listed on the member's profile to verify the transaction. If you are unable to get a hold of the account owner, you can only give $2,500. 

400

Can more than the trustor(s) and trustee(s) be listed on the trust if they are already listed in core?

Only the Trust, Trustor(s), and Trustee(s) are owners and signers on Trust accounts. Anyone that is not a Trustor or Trustee must be removed prior to adding a Trust.

400

An Attorney-in-Fact CANNOT do what?

  • Manage a trust account by virtue of the POA
  • Perform Account Maintenance for the principal (Change Ownership Roles, etc.)
  • Change or add Payable on Death Beneficiaries to the principal’s accounts
  • Add themselves or others as joint owners to the principal’s account(s).
500

NSF/Courtesy Pay fee, and this fee are $28.00

Uncollected Funds Charge

500

How many months does the members payment increase by while paying off the CPI?

9 months

500

What are wire transfer limits? 

A Wire has no limit

  • $2,500 - any wire for more than $2,500  and NOT signed in person will be called on by ACH before processing
  • $25,000 - any wire from a HELOC for more than $25,000 must be signed for in person at a branch
500

Does DFCU act as a trustee for trust accounts?

DFCU does NOT administer (act as Trustee for) Trust accounts but will open an account reflecting the Trust’s ownership.

500

What happens what the TRO owner/Principal passes away?

A POA expires automatically upon the death of the principal

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