PERSONAL CHECKING
What is the minimum deposit required to open a personal checking account?
$100
Under the age of 18
What kind of loan is a DMI?
What is the minimum deposit required to open a business checking account?
$100.00
When quoting a CD rate to a customer, what is required to be disclosed?
The APY (annual percentage yield)
What is the monthly maintenance fee for an everywhere checking account & how can it be waived?
$8
can be waived by:
-keeping a minimum balance of $600/$1,200 average collected balance
-or by direct deposit
Two
How many types of personal credit cards are there? What are they?
3 types:
-Secured Card
-Consumer Rewards
-Consumer Non-rewards
What are the qualifiers to waive the $10 monthly maintenance fee on a business essentials account?
What are the two common types of IRA's?
Traditional & Roth
55 years or older
What is the monthly maintenance fee for an everywhere savings account & how can it be waived?
$4 but can be waived by maintaining a daily balance of $300
What is an unsecured loan and why is the interest rate higher?
The bank holds no collateral or security on the loan which means there is a higher risk to the bank. The bank charges a higher premium (interest rate) for this.
In order to open an attorney essentials account, the customer must also have what type of account?
IOLTA
What is the grace period for a renewal/withdrawal of a CD in maturity?
10 calendar days
What is the age qualifier for the campus checking account?
Must be under the age of 25
What is the minimum deposit required to open a money market account?
$1,000.00
What is a revolving loan/line of credit?
A loan that allows customer to borrow money only when they need it. The loan is paid back of the amount they took out and becomes available to withdraw again.
What treasury services qualify for a business elite checking account?
Merchant Services, Autobooks, or First Bank Direct Deposit Payroll
What age is a customer required to begin RMD's on a traditional IRA?
72
Which personal checking account offers a free 3x5 safe deposit box?
What is the monthly maintenance fee for a personal money market?
$15.00
How do you receive a written payoff on a loan?
-First Bank loan- email "loanpayoffquotes"
-DMI- contact DMI
What are the 6 types of business checking accounts?
Business Essentials, Business Interest, Business Advantage, Business Elite, Commercial Analysis, & Community Checking
What length of time is offered for a certificate of deposit?
30 days to 72 months
(except right now only 3 or 6 months lol)