Personal Checking Accounts
This personal checking account is a free account that pays customers aged 50+ interest on their account balances
50+ Interest Checking
What type of account would you offer to self-employed and small to medium sized businesses such as landscapers, contractors, Certified Public Accountants (CPAs), realtors and accountants with lower volume transaction needs?
Business 250 Checking
What is required for primary and joint owners to open an account in Instant Open?
Email Address
My "Beneficial Ownership" form doesn't list my control person information. How do I fix this?
from the profile, click edit > Additional > Roles
Still in Wizard click organization roles button
What are "Same-Day Items"?
Items that are available immediately
• Cash • Wire or ACH • U.S. Treasury checks • U.S. Postal Service money orders • Federal Reserve Bank and Federal Home Loan Bank checks • State or Local government checks • Cashier’s checks • Checks drawn on an account held by our institution (“on-us checks”)
For a Lifetime Plus checking account, the customer must meet what 3 requirements during the monthly qualification cycle to earn rewards?
- Minimum of 15 monthly posted Debit Card Transactions ($1 or over) per cycle
- E-statements
-Monthly ACH or Direct Deposit Credit customers must have at least one that is $1 or more
This business account MUST be paired with a Business 250, Business 500 or Analysis checking account.
Business Interest Checking
What are the "Three Pillars" in Instant Open?
Approval Rule Failures
Documents
Tasks
For all accounts opened, what role must you go in and manually add?
Account Officer Role
When should a New Account Exception Hold be placed?
When depositing a check into a newly opened checking account (less than 30 calendar days) if this is the only current checking account for at least one of the account holders.
What rewards will a customer earn if they meet all monthly requirements for a Lifetime Plus Checking account?
• 5.00% APY up to $15,000 daily balance
• 0.50% APY for $15,000.01 & Above at a blended rate
• Up to $15 ATM Fee refunds.
This business account does not have a minimum balance requirement.
Business 250 Checking
What status must the application move to in Instant Open before you have successfully opened an account in Instant Open?
COMPLETE
(You will also see "certificate of completion" under the documents tab)
In the Wizard, where do you click to update account titling, address format and alternate addresses?
Click the blue account number hyperlink
True or False
If you have reason to believe a check will not be paid or is fraudulent, you should place a hold on the check.
False.
If you have reason to believe the check will not be paid or is fraudulent, the check must be declined.
What personal checking account offers unlimited check writing capability, 0.125% discount on New Loans if adding Auto-Pay and free cashiers checks and wires?
Loyalty Advantage
On a Business 500 Checking, when will the $25 Monthly Minimum Balance fee be waived?
- daily balance of $10,000 is maintained
- $15,000 combined deposit balances
- $50,000 outstanding balance on business loans with Carter
True of False
Instant Open verifies IDV, Qualifile and OFAC with the same system DNA uses.
True.
All approval rules are the same and will fail or pass under both platforms.
True or False
Christmas Club payouts can be left as an official check issue.
False
Must be updated as ACH transaction to an internal account. Pre-auth form is also required.
True or false
Reg CC does NOT apply to all accounts
True, Reg CC only applies to checking accounts and does not apply to Savings or Money Market accounts. If a hold is needed for a savings account, a Management hold must be placed.
This personal checking account CANNOT be used as a draw account
Youth Checking account
This Business checking account has a $395 monthly service charge fee and is designed for businesses who participate in Money Service related transactions such as providing an ATM.
MSB Checking Account
True or False
Applicant information can only be edited in the Instant Open workflow while the application is in “Pending Approval” status.
True, once an account is in the "Approved Status" any updates or changes must be done in DNA
Can you add a beneficiary to a safe deposit box?
No
What is a substitute check?
Legal equivalent of an original check. A substitute check would be issued in the event that an originally deposited check comes back (ex: NSF)