Policies
The meaning of the acronym for BSA.
What is the Bank Secrecy Act?
The checking account that offers 3% cash back on debit card purchases up to $9.00 a month.
What is the Kasasa Cash Back?
The transaction code string used to deposit both cash and checks.
What is CR SD KR SD?
The savings account that pairs with a Kasasa checking.
What is a Kasasa Saver?
The meaning of the acronym for OFAC.
What is the Office of Foreign Assets Control?
The name of the report that gets filed for cash transactions over $10,000.00
What is a CTR? (Currency Transaction Report)
A type of safe usually located inside a bank vault and rented to members for storing valuable items.
What is a safe deposit box?
The transaction codes used to issue a bank check from a members account.
What is KD SW?
The standard hold length for check deposits over $500.00
What is 2 business days?
The code used to pay on the principal on a consumer loan.
What is PP?
What is Structuring?
An electronic transfer of funds from one institution to another. *Hint: they can be domestic or international
What is a wire transfer?
The transaction code string used to transfer money from one members account to another members.
What is SW X SD Y?
A type of savings account that earns higher interest than a regular share savings. *Hint: Not a Kasasa
What is a High Yield Savings?
The name of the list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.
What is OFAC?
The types of checks that typically do not require a hold.
What are payroll checks (under $5,525) and ON-US checks?
Certified funds drawn on a bank and signed by an authorized bank official.
What is a bank check? (official check, treasure's check, cashier's check.)
The transaction codes used to cash a check for a member. *Hint: Not an ON-US
What is KR SD SW CD?
The service that allows members to view accounts, pay their bills and transact on their accounts online.
What is Online & Mobile Banking?
A check payable to one individual that has been endorsed to another (e.g. The check is payable to Jane Smith, Jane Smith signs the back of the check and writes pay to the order of John Smith) *Hint: MVCU does not currently accept this without an exception by a supervisor
What is a double-endorsed check?
Holding a check for longer than the standard amount of time.
What is an extended/exception hold?
The product that allows you to earn interest for a pre-set period of time (term)
What is a CD (certificate of deposit)?
The account number used for tracking and checking OFAC when cashing an ON-US check for a NON-MEMBER.
What is 10000?
The name of the icon in Symitar used to balance your cash and checks.
What is Teller Totals?
The transaction codes used to BUY money from another teller or the vault.
What is CR GL?