Teamwork Makes
the Dream Work
(Draw Account)
the Dream Work
(Draw Account)
Typically, this type of acct is where the money transfers from in order to pay an item when there is not enough funds in the checking
What is savings
The maximum $ amount a customer can receive for the reserve line of credit
What is $5,000
The amount of the insufficient funds fee for each transaction $5+ that overdrafts within the discretionary ODP Limit
What is $34
Eligible Consumer+Business Accts are assigned this limit the following business day after a new account is opened.
What is $100
This overdraft option is the one that our bank defaults to
What is OOPS
The daily transfer fees, if any, for a draw acct transfer
What is $5
In order to get the reserve line of credit overdraft, customers must first
What is apply
OOPS stands for
What is Occasional Overdraft Privilege Service
Eligible Consumer Accts are assigned this limit if the account meets the following criteria-
opened for 30 days, aggregate deposits or balance of $500+, and NO direct deposit
What is $800
The correct order of overdraft options to present to customers
What is Draw Acct, Reserve Line of Credit, and OOPS
The draw acct option transfers the funds to the checking account to cover an overdraft during this time of day
What is overnight
Consumers pay the bank back for money taken out of a line of credit, instead of a predetermined dollar amount
What is a rate of interest
Maximum insufficient funds fees per day
What is 5
Eligible Business Accts are assigned this limit if the account meets the following criteria-
opened for 30 days and aggregate deposits or balance of $500+
What is $2000
Eligible Consumer Accts are assigned automatically to cover checks, online transfers, ACH+recurring POS transactions, but not
What is ATM and Everyday Debit Card Transactions