Promotions
What membership will get you a rate bonus on your marcus OSA?
AARP
When do we close unfunded accounts?
after 60 days
What is a grace period and how long is it?
Additional time granted to create a maturity plan/10 days
Why would a customer not receive a 1099 form?
- combined interest is not over 10$ and they are not subject to backup withholding
What is FDIC coverage?
Essentially insurance for deposits
If you fund account with at least 500$ within the first 10 calendar days of opening you will receive the best rate we had to offer within those 10 days
What is the cut-off time for wire transfers?
4pm EST
What is the difference between an OSA and a NPCD?
A NPCD has a fixed rate that will not change
An OSA has a variable rate
What date should customers have received their 1099 forms by?
February 15
How much FDIC coverage is each account holder entitled to per account?
250,000$
How long will a referral bonus remain on an account?
3 months
How long does an account closure via check usually take?
10 business days
What will happen if you need to withdraw funds from a HYCD before maturity?
an early withdrawal penalty will apply
What is the number for FDIC?
1877-ASK-FDIC
What is the amount of the AARP rate bonus
0.10% APY higher than the publicly stated amount
How long do trial deposits take to arrive in the external account?
up to 3 business days
Can you add funds to a NPCD throughout the term?
No, once the balance of your NPCD reaches 500 or more you may not make additional deposits
Do joint owners have access to the accounts 1099?
no only primary
What is the maximum number of beneficiaries a customer can have per account?
6
What is the promotional NPCD term for AARP members?
8 months
How many days does a customer have to add a joint to a CD?
15 business days
Can you change an existing HYCD to a NPCD
Vice Versa
No. You can not change one CD type over to the other, you would have to close the account and open a new one
are we permitted to give tax advice?
no
What would be the maximum FDIC coverage for a joint account with 2 account holders?
500,000$