Consumer Lending
This is the minimum loan amount for a new or used vehicle.
$2,500
This type of LOC requires the following application docs
1. 1919
2. Small Busines Administration Application
3. Loan Story
SBA Express LOC
This 2 letter abbreviation must be entered when documenting ID for withdrawals
State ID
This form is used for customers to agree to their overdraft decision and is required as part of the account opening process.
A-9
True/False: When using a passport as primary identification it must be written in english
True
What is the maximum term for a personal loan
48 months
This credit option for business customers come in various promotions and can be used for everyday purchases.
Business Credit Card
What is a General Ledger?
A GL is an "account" that can be used for miscellaneous purposes and house money temporarily.
Standard OD protection authorizes the bank to pay...
1. Checks
2. Bill Payments
3. ACH Items
4. Recurring debit card transactions
This type of ID is acceptable for a minor under the age of 18 but must include a photo
School ID
What personal loan product offers the following:
1. Interest only payments
2. NO origination fee
3. Annual fee: 35$
Expressline
This business loan is structured similar to an ARM loan and is targeted to business owners that are refinancing expanding, relocations or buying a business property.
Select CRE Term Loan
Checks made payable to a business can be cashed as long as the person cashing the check is a signer on the business
False
The funds made out to a business - Belong to the business
A deposit can be completed then a withdrawal from the account owner.
Overdraft protection can take one of two options. What are the two options
1. Overdraft protection with a DDA
2. Overdraft protection with a LOC
This is the minimum opening deposit for consumer new accounts
$25.00
This LOC has a 3M max and cannot be non-owner occupied
Premier HELOC
This type of loan is used to purchase new or used commercial vehicles (like semi trucks) or equipment.
Select Term Loan
How many holds are placed for a large deposited item?
Two
1. Place a hold for the first 5525
2. place a hold for the remainder and a time frame for release
What is the maximum fee amount the bank can charge in a day?
$175
or 5 OD fees @ 35$
This is a best practice when checking and ID that is out of state
ID checking guide
This type of HELOC has a 250 dollar annual fee and can only be in 1st position
NOO HELOC
Select Secured Expressline
Transfers from this specialized account into a personal account are not allowed
1. Opting in says
2. Opting out says
1. I agree to overdraw my account and pay fees associated with doing so
2. Please decline transactions that would overdraw my account
When opening a new account you have a weird feeling with the customer, the ID is out of state and they opt in and begin asking questions about overdrafting the account.
Can we decline the account opening with this information?
No.
These are yellow flags, but not a reason we can decline the account opening. We should conduct enhanced due diligence with deposits that are checks and monitor the account for the first 90 days.