RANDOM FACTS
This is the official MWA newsletter for members
All checking accounts have a $0.00 minimum balance to open EXCEPT....
Century Money Market
This type of transfer is used to send funds from a share at MWA to a checking, savings, or loan account at another financial institution
ACH Credit Authorization
These are the monthly qualifications of the Reward Checking Account
1 Automatic deposit or withdrawal
10 debit card transactions
E-statements
What is the max amount a MWA cashier's check can be issued for?
$99,999.99
True or False: A check made payable to a member can be deposited into their business account.
TRUE
TRUE OR FALSE
The maximum deposit for a Branch Into Savings Youth Certificate is $500?
False
________ is a service that enables members to switch direct deposits and recurring payments easily.
ClickSwitch
Explain the difference between Overdraft Tolerance and Overdraft Loan.
Overdraft Tolerance: A service designed to prevent members transactions from being declined by allowing the account to go negative with a $29 overdraft fee.
Overdraft Loan: loan connected to the member’s checking account to protect them in case they overdraw their account. The amount will automatically be transferred from this loan to their account for a $8 fee. If the member makes the transfer, no fee will be assessed.
Where can you find a copy of a title for a MWA loan?
Image Retrieval
A member calls in wanting to set up an automatic reoccurring payment from their external account to their MWA account. Give me 2 ways this could be completed.
1) ACH Automatic Deposit Form & Voided Check
2) Through MWA digital Banking
3) Bill Payer with their current bank
With the Reward Checking Account, members can get up to ________ refunded in foreign ATM fees each month.
$12.00
The daily check limit for Mobile Deposit is _____ with _____ available immediately.
$3000, $275
Name 3 loans not eligible for a Skip A Payment
* Mortgages
* Leases
* Over 16 days late
* Overdrafts Loans
*Commercial
*Deceased Account
*Visa
Explain how a member qualifies for Relationship Perks and name 1 benefit they receive
* 10 checking transactions in the last 30 days
* .50% discount on loan rate
*50% discount on Safe Deposit Boxes
* $100 discount on Mortgage Closing Cost
Name 2 situations that would cause a Power of Attorney to be revoked
1- Principal revokes POA
2- Principal passes away
This type of account might be opened when a member passes away.
Estate Account
This service comes complimentary with Benefits Plus checking
Ultimate ID
On this type of account only for social security benefits, the prime member does not have access to the funds and cannot conduct transactions.
Representative Payee Account
A member just paid off their MWA loan. They only have a savings account. Explain the account requirements to the member.
To avoid min balance fee, member needs to have an average of $500 in savings over the last 2 months.
One transaction a year ($1 in or out) to keep from dormant fee.
Member paid off their auto loan with a dealership check. When do we release the title and who do we contact about the title release?
Immediately to the dealership
Email title department and place note under loan
Name 3 consumer Elan Credit Card options that we offer
Visa Platinum
Travel Rewards+
Max Cash Preferred
Everday Rewards+
Visa Secured
Visa College Real Rewards
Explain when we would use an ACH Stop Payment form instead of the DTS System.
Disputing a non-fraud ACH transaction
TRUE OR FALSE
A Trust Account can have a loan
TRUE
Explain how a HELOC loan works
This is a revolving credit line. As the member makes payments to the loan, those funds become available to the member to use again.