Consumer Checking Accounts
What types of transactions will help a checking account qualify?
debit card purchases, deposits, withdrawals
How many free transactions allowed in Business Forward Checking?
500 transactions
Who in the loan department do we email required documentation to for a complete HELOC application?
Tom Toland & Maria SaGillen
Customer deposits $75,000 into their checking account. What can you suggest be a better long-term savings option for them?
Meet with Jim, financial planner in Wealth
Who is our Wealth & Trust partner?
Jim Claroni
What criteria is needed for a consumer checking account to qualify?
$250 monthly average balance or 5 transactions
What is the merchant service that allows POS transactions?
Clover
What income verification documents do we need to get from a HELOC applicant?
1. last 2 years W-2s
2. 2 most recent paystubs
3. if retired, Social Security award letter
4. if self-employed, last 3 years W-2s
Name 5 referral categories.
1. Wealth & Trust
2. Commercial Insurance
3. Cash Management
4. CBB
5. Mortgage
Who are our insurance partners?
Seth Godcher & Andrew Berscheid
How many consumer checking accounts do we need to open in Q1 to get 100% to goal?
30
What average daily balance needed to avoid monthly maintenance fee?
$500
How much equity does a client have to have for a HELOC if they own a single-family house or a condo?
1. 70% equity in a single family house
2. 60% equity in a condo
Who needs commercial insurance?
Any business!!
Who is our Cash Management partner?
Nancy Atwater
Name 3 opportunities to suggest a consumer checking account to a client.
1. OTC/non customer check cashing
2. mortgage/HELOC only customer
3. savings/MMA only customer
What balance or how many transactions does a business checking account need in order for it to qualify?
$1,000 or 5 transactions
If a client disagrees with the AVM appraisal for their HELOC, how much do they have to pay to have a separate appraisal done?
$300
What is the easiest activity you can do to identify a business customer who may benefit from cash flow solutions?
Look at transactions in their Relationship Profile
Who is our CBB loan partner?
Matt Richard
Susan has a checking & adds hubby as a signer. Do you get a consumer checking point? (Hint: this happens after 1 year of the acct being open!)
No :(
Name 5 cash flow solution services we offer.
1. online & mobile banking
2. Bill Pay
3. ACH payroll & vendor payments
4. Remote Check Deposit
5. Wire Transfers
How do you calculate available equity?
Estimated value times 70%/60%. Then subtract the mortgage balance.
Customer is asking for a loan for their multi-family house that they're using for investment. Who do you refer to?
Matt Richard in CBB
Who is our merchant services payroll representative?
Kraig Bloom