Forms & Letter Requests
True or False: A member requests to open a checking account for their minor son who is an existing member. As long as all account owners will be the same on the new checking, an additional 97MI does not need to be completed.
True.
Reg CC.
Prospective members are required to provide basic personal information, including a valid photo ID, prior to opening an account in accordance with this BSA regulation.
Customer Identification Program.
A check review alert should have a ___ day expiration and a detailed note placed with ___ expiration.
Alert: 30 day expiration
Note: No expiration
Explain the process of submitting a promissory note if you are unable to perform the DR action in LOUI?
Scan the signed promissory note with the PromNote Route Cover Sheet (NFCU 999) underneath it using Branch Work procedures. If there are multiple promissory notes each one must have its own cover sheet.
A new member deposits a cashier's check for the amount of $10,000. What is the appropriate hold?
$5,525 would be available in 1 business day, the remaining $4,475 would be available in 5 business days.
True or False: A non-member joint owner visits the branch to complete a cash advance on a NFCU credit card that they have authorized use of. We cannot complete this request as the cash advance service is not available to non-members.
False, non-member joint owners may request to cash advance on a NFCU credit card they have authorized use of, but not a non-NFCU credit card.
A member comes in to pick up their pre-ordered cashiers check. Where would the note be placed and for how long?
Member level note with one year expiration.
When are initials on a promissory note required?
Initials are only required when a member accepts GAP.
True or False: If a member makes a check deposit into a new business account the funds must be placed on the applicable New Member hold.
False: The hold would be based on the business owner's length of membership.
When performing transactions for a member with an "ID Theft Victim" alert in USD does a note need to be recorded? If so, what information must be included?
A non-expiring member-level note must be recorded detailing the 2 forms of ID the member presented including the ID type, ID issuer, and ID number.
A Non-Member visits the branch to cash a Navy Federal check, does a note need to be recorded in USD? If yes, what information must the note include and how long would it be placed for?
No note is required when cashing Non-Member checks regardless of ID presented or dollar amount.
A member comes in and requests the last 6 months of statements- then states they also need you to stamp and sign them. How would you proceed?
Advise the member a statement verification request must be submitted and will be completed within 24-48 hours.
A member presents a personal check for a savings deposit in the amount of $975. After placing the deposit on a 1 day hold, the member then presents a Western Union money order in the amount of $125 to deposit into checking. How would you proceed with the transaction?
The initial deposit must be error corrected and placed on a 2 day hold due to the aggregate total of the non-next day items presented being $1,000 or more.
True or False: When processing cash advances no Navy Federal issued item's information can be listed in Encore. If a debit card is swiped to begin the transaction you must close the member profile completely and re-open it with only their primary form of ID.
True.
When placing a note for a wire- where would it be recorded and how long is the expiration?
Member level for 3 year expiration.
True or False: Domestic wire forms are only required when a member is sending $5000.01 or more, and international wire forms must be submitted for every request.
True.
What are considered next-day available items?
-US Treasury Checks, Electronic Payments, State and local government checks, Cashier's, Certified, Official, Teller's checks, Federal Reserve Bank checks, Federal Home Loan Bank Checks and Postal Money Orders.
What are the acceptable forms of ID when processing cash advances and when an "ID Theft Victim" alert is present.
Unexpired Driver's License, unexpired State Issued ID card, unexpired US Passport, unexpired Permanent Resident Alien card, unexpired MIL ID, unexpired Native American Tribal ID card, voter's registration card, paystub (within the last 2 months), unexpired vehicle registration, insurance docs, bank statement (within last 2 months), local/state/federal tax docs, utility bill (within the last 2 months), w2 from most recent tax year.
If a member has a level 7 Suspected First Party alert and their accounts have been compromised, what information must be recorded to remove the alert and complete ASAC procedures?