Can we accept 2nd/3rd party checks made out to someone other than our member?
Yes, as long as the signature of both parties are on the back.
True or False: An on us check is okay to deposit if funds are verified even if it is over my limit
False, the amount still would have to be approved, although it would be good to include the verified funds in teams.
On XP, give an example where would one click to view FULL transactional history on a membership (direct deposit, frequent check deposits, locations visited, ATM withdrawals)
Membership book link
Account name (monthly balances)
What is ONE hold that can be placed through Live Teller reflecting on the account immediately?
A 2-day hold can be placed on a check through live teller using the drop-down menu before posting
True or False: The teller must verify everwise cashiers check is presented.
TRUE
*Find it > links and resources > Cashier's check status
In what scenario would the front and back of a check be included in an approval request?
A copy of the front and back of a check would need to be included for a member wanting to CASH their check.
A member wants to deposit a large check, and does not have a history of large deposits, what is a phrase we can use to gather more information?
Can you tell me a little more about this check?
Have you recently sold anything?
Have you received a check from this person before?
How soon do you need access to the funds?
A check hold that is not under Reg CC (checking) must be placed in what kind of account?
Primary Savings
Grandma wrote out a 50 dollar check for little Johnny's 5th birthday. Johnny's mom, Candace would like to deposit the check into her savings account. What does she need to add on the check?
Candace needs to sign Johnny's name as:
"Johnny Blue, minor"
What are the 3 pieces of information needed in a check approval request?
Member name
Member number
ITM location
A member sends in a check from US treasury, what are the verification steps/tools for this transaction?
US Treasury Check Verification System
XP
How is a Reg CC 2-day hold issued on a check that is UNDER $5525
225 is released same day, and the remaining amount is released after 2 business days
True or False: If a member wants to cash their check but does not have a pen to endorse the check, can we still cash it for them?
True, we can deposit the check into the account and get a scan of their ID to process as a regular withdrawal.
True or False: Can we ask a member why they are receiving a check?
True!
p.s. This helps with the check approval process
True or False: Does the back of an insurance check need to be signed in order to deposit?
True!
Do check holds in XP automatically exclude weekends as business days?
No, it is on us to include the 2 non-business days in total on XP
If a 5 hold is placed on a check Monday, it should be released the following Monday (7 days)
What are the 7 areas of check negotiability?
1. MICR line
2. Payee
3. Exact numerical amount
4. Written amount
5. Signed by drawer
6. Dated
7. Unconditional endorsement
Who can approve transaction limits if Lisa or Alexis are unavailable?
Amber moscala
A branch manager
When is positive pay used?
Positive pay is used for On-Us Draft checks written from an everwise Business Account.
How is a Reg CC 2-day hold issued on a check that is OVER $5525
225 is released the same day, $5300 is released on the 2nd business day, and the remaining amount is released the 7th business day.