Account Titling
On a joint account with a W8 and W9 customer who has to be the top line owner?
W9 customers! They should always go first in the account
What is the minimum loan amount on a unsecured loan?
$7,000! $7,000 is the minimum loan on all personal non real estate loans
What is the bonus on a Money Market account?
0.20% on the average collected month-end balance for the previous 12 months, up to a maximum reward of $200 annually
Which credit card offers no annual fee and no foreign transaction fees?
Commerce Miles
Do minor need to sign a signature card for a minor savings account?
No! Legally minor can't sign these documents, instead they leave that part of the sig card blank and the custodian will say "custodian's name, custodian" and will sign the w9 as "kid's name by Parent's name, custodian"
What is the discount for auto debit from a commerce account?
0.25%
Do the MyRewards savings and/or Money Market get free paper statements?
No! MyRewards savings has a fee of $3 and the Money Market has a fee of $4
What is the fee for a secured card?
$49
Parent does! If the child is top line then they won't be able to get a debit card
What is the term for a HELOC?
120 months, or ten years.
How long is the promo money market for?
6 months!
$400-$5,000
Can there be two custodian on a minor savings account?
No! There can be a successor custodian who can't act until the custodian resigned, become legally disabled (by court order), or is deceased.
When quoting interest rate on credit products what key piece of information must always be included?
Annual Percentage Rate (APR).Best way to quote a loan is to use the script found in branch connections, underneath the interest rates
Which savings account are eligible for promo money markey?
Premium Money Market/ PMMA and Options MMA.
How do you increase a customer's credit line on a credit card?
Using the credit card limit increase form! Which can be found on the source
What is a Representative Payee?
Someone appointed by the Social Security Administration to manage Social Security or SSI payments for a beneficiary who is incapable of managing their own payments.
What is HELOC's intro rate for the first 6 months?
4.99% for 6 months, renewals and modifications don't get this rate
A customer complains about not getting the $20 bonus even though they have deposited $20 for 11 months. Can we correc this?
How does the application process for someone between the ages of 18-21 differ from normal?
They have to have a paper app, which you can find on the source!