Treasury Management
1) Check Fraud
2) ACH
What is the monthly minimum balance for our Business Basic Account?
$0
What are the names of our 3 business savings product?
1) Business Savings
2) Premium Business Saver
3) Business Money Market Account
True or False
A new Certificate of Beneficial Owner(s) form must be signed every time a new product is added to a business?
True
What is the monthly fee for the Advance Package?
$20
What is the average daily balance for our Business Dividend Checking Account?
$5,000
$20/Mo. Fee if not met
True or False
In order to have a Bus. Money Market account, the business must have a Business Checking account first?
False
Name the 3 documents that need to be signed when opening a business account.
1) Business Membership Application
2) Member Information Form
3) Certification of Beneficial Owner(s) Form
What is the name of the Merchant Service company we partner with?
FiNet
What is the monthly transaction allowances for our Business Checking Accounts (total of deposits and withdrawals) before we start charging for each transaction?
Free
True or False
In order to have a Premium Business Saver account, the business must have a Business Checking account first?
True
What must the status be for a business, on the state corporation website, in order for us to open an account?
Active
No
How much interest would a business earn in the Premium Business Saver if they had $100,000 or more?
2.50% APY* on balances between $100,000 – $4,999,999
4.00% APY* on balances $5,000,000 and over
What is the new rule that started this year, that applies to Business Owners when it comes to the Beneficial Owners Form?
Business Owners need to self-report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). fincen.gov/boi