Payroll Direct Deposit
What is Perpay powered by?
Direct Deposit
If an application is rejected, can a user reapply? If yes, when?
After 30 days, but we recommend they wait a few months.
What is the original estimated arrival date based on?
This is based on when we receive a customer’s first payroll direct deposit payment, and it has been applied.
A credit balance is also known as a___________
Negative balance
What will happen if a user's auto apply feature is off?
Whenever we receive their DD payment, it will not be applied to the CC. If the user has a MKP balance, the funds will be sent there, else, it will go to their account balance.
List some payroll providers.
ADP, Gusto, Paycor, Paychex, Paycom
When will a card application expire?
If we do not receive their initial direct deposit payment within 60 days, the application will expire.
How long do card shipments take?
5-15 days
WHen a user has a credit balance, what are the two options?
The user can choose to leave the funds on their card to pay down future purchases or withdraw the funds to a verified bank account.
Do we accept additional payments? If yes, name them
Yes. Bank payments and paper checks
Why is it important to check the account and routing number?
Incorrect account information may lead to rejected or misdirected payments.
How do we cancel a card application?
For users who have made it clear they want to cancel, we will enter their email address in the “Card Application Abandon Tool” then refresh their Admin page to make sure their minimum payment no longer reflects the required deposit for the card.
Where can we find a user’s shipping address for the card?
This can be found either in Admin or Marqeta.
WHat causes a negative balance on a card?
Occurs when a card is provisioned and the user’s direct deposit payments are applied before they begin making transactions.
What are best practices for Cardholders to follow to receive a credit limit increase?
If cardholders continue with good repayment history and pay at or above their card minimum payment, they may become eligible for a CLI.
List three benefits of direct deposit.
It makes repayment history easy and automatic
It keeps the balance under control
Stress-free
What fees will a user receive if they close their credit card but still have an outstanding balance?
Interest
Is it possible to track the card in the shipment process?
No
In order for a user to receieve a refund of their negative balance, what things must be true?
For a customer to withdraw funds, the bank account on their profile must be in a valid status.
Have 0 pending payments on their account
Have 0 pending transactions on their account
Have 0 pending disputes on their account
List the order in which payments are applied.
Perpay +
CC minimum payment
MKP minimum payment
CC Balance
MKP Balance
Account Balance
How may types of direct deposit setup are there? Explain each
Default
Manual
Direct Deposit form
Can a closed card account be reopened?
If so, when?
No
Is documentation required if a user wants to update their address and process a replacement card to an account less than 30 days old. If yes, what is needed?
Yes. Copy of ID (driver's license or valid passport) along with proof of residency (bank statement or utility bill)
What is the withdrawal exception?
If the bank account the user would like the funds sent to is in a pending or failed verification status, and they already have a withdrawal history with the same account number, we can proceed with the withdrawal.
What information must we verify when doing an inbound phone verification?
Name, phone number, DOB, last four of the SSN, current and previous address