Certificate of Deposits
How often do CDs receive statements?
CD statements are issued Quarterly
How often do Money Market Accounts receive statements?
Money Market Account statements are issued monthly
How do you earn debit card cashback bonus?
1% cashback up to $3,000 in qualifying debit card purchases, up to $30 in debit card cashback bonus each month
How often do Online Saving Accounts receive statements?
The Online Savings Account statements are issued quarterly on the last day of the month in March, June, September and December (or the next business day if a weekend or holiday). Monthly statements are issued when there has been an ACH/EFT (electronic transfer) on the Account
How long do customers have to fund their account if account is at $0.00 balance?
45 days, at that time we would close account with no fee - customer would need to reapply
For the CD Terms, what is the shortest time frame we offer and what is the longest time frame we offer?
Shortest term option: 3 months
Longest term option: 120 months (10 years)
How many checks and deposit slips come with the checkbook order?
50 checks and 20 deposit slips
How many checks and deposit slips come with a checkbook order?
150 checks and 20 deposit slips
How can you withdrawal funds from an OSA?
Official Check
ACH/EFT transfer
Wire transfer
What information is required for a customer to open an account with us?
US Physical address, 18 years or older, a valid social security number
How long is a CD grace period?
Maturity date + 9 day grace period (10 days all together)
How much is the fee if a customer does not meet the minimum average daily balance?
$10.00 fee
When are statements issued for the Cashback Debit Account?
Monthly (paperless only)
Can an OSA be open in the name of a trust?
No
What accounts can be open in the name of a trust?
MMA, and CD Accounts
When do CDs interest post to the account?
The interest is posted on the anniversary date every month unless the day falls on a weekend or a holiday
If a customer does not meet the minimum balance requirement, when is the fee posted to the account?
at the end of the 3rd statement cycle
How long do customers have to register for the online banking to avoid account closure?
Cashback Debit Account customers must register within the first 15 days of account opening
How often do customers accrue/earn interest?
Interest is compounded daily and credited to your account monthly.
What account types can be a Custodian Account?
CD, MMA and OSA
When can a customer withdrawal funds from their CD PENALTY free? (2 answers/times)
Interest can be withdrawn from your CD at any time without a penalty
On/After your Maturity date + 9 day grace period
Give an example of a transaction that does NOT count towards the 6 withdrawal limit for a MMA?
Official Check paid to the Primary or Joint owner
ATM via Debit Card
Withdrawal Slip from an old checkbook
Where are Discover Debit cards accepted?
Where can you find in Link'd the formula for how we calculate the interest?
Interest Calculation Procedure
Can a customer remove a joint owner?
NO