Bank Rejection
Name two reasons why a bank would be deleted.
Rejection from the bank or Vanguard error
How many microdeposits are sent to a client's bank account?
2 microdeposits
Clients are able to add more than one bank within the first 30 days.
False
Can a bank be deleted if there is a pending transaction?
No.
How many Vanguard accounts can listed on the EBTF?
One
If a bank is deleted within the first 30 days, when will a client be able to add a new bank?
On the 31st day
Once a client adds their bank, in how many days will they receive microdeposits?
2-3 business days
Clients will not be able to e-sign to verify their bank unless they are web registered.
True
In CRAVE, where do you go to delete a bank?
Profile and account settings
Does an ACIP agent need notarization on the EBTF if he is agent on the client's VG account and the bank account being added?
No
Can processing re-add a bank if it is systematically deleted? Yes or no.
No
A client receives four microdeposits, how should an agent determine which two deposits belong to that client?
JSS and CSG Service Administrators will be able to determine which two client the micro deposits belong
Agents are able to review and e-sign so that a bank can be authorized.
False
A client is calling to delete or remove a bank and the bank has an automatic deposit set up. What are the steps to helping the client to delete the bank or what journey handles this call?
The call would need to be transferred to investments so they could remove the automatic investments.
Client Scenario: "Can I transfer money from my Vanguard account to my father’s bank account? He is not joint on my VG account."
Electronic Bank Transfer Form (The Vanguard account and the bank account have different registrations and there are no common owners/authorized signers for the Vanguard and the external bank account)
A client receives an alert that their bank is deleted. As an agent, you review and notice that there is a Vanguard error. What are your next steps during the call?
Contact JSS for approval to submit an Intake Form
How many attempts do clients have to correctly enter microdeposits before the authentication process is locked?
Three attempts
To add an International bank, client must complete an International Wire Service Form.
True
A client has called requesting you to delete a bank, while speaking to the client you notice they have an upcoming RMD set up to the bank account.
No, the call would need to be transferred to retirement
Client is adding a bank to her Brokerage account through a electronic bank transfer form. The clients name on her Vanguard account and bank account are the same. Does the form need to be notarized?
The form does not need to be notarized as both the name on her Vanguard and bank account are the same, and this is an individual account.
What will happen if a returned micro deposit reject is received? What if the bank was systematically deleted?
The system will delete the invalid bank and discontinue any services tied to this bank. The client will have to re-add this bank
Deposits can only be verified if they were deposited in the bank in the past ___ days.
90
A client's signature on the International Wire Service form must be verified in two ways: Voice verification and electronic bank transfer form.
False (Client goes through voice verification after form is received and medallion signature guarantee)
If a Vanguard agent accidentally deletes a client's bank, who has to add the bank back?
Client care
Mary Smith is a full agent on her husband’s account and trying to add a bank that is under a 3rd party name. Is a notary needed and who all will need to sign the form.
Yes, the account holder, the full agent, and the 3rd party would need to sign the form