I'm down with OLB
I just need to have either a cell number or email to send/receive money. But you can only use me for personal NOT Business online banking.
What is Zelle.
I need $25 to open and only maintain $5 just to earn interest.
What is Statement Savings
OTC
What is Over The Counter
I'm perfect for a smaller business with average account activity and I get no monthly service fees.
What is Free Business Checking
A check is made payable to a DBA account. It's ok to cash it.
True
Because the client is using their SSN and not an EIN number
I'm easy to enroll in and considered a great monitoring tool to help me with future financial tools. I should get some "credit" for this!
What is Credit Sense
I'm no longer offered as a new account, and you can't withdraw from mee unless you have a special "book".
What is a Passbook Savings
DBA
What is Doing Business As
I'm designed for big businesses with big transaction volume. I come with account analysis that helps track my activity and applies the appropriate charges after each statement cycle.
What is a Commercial Checking
POA or Power Of Attorney is null and void upon a client's death.
True
In this situation, the person whose role is listed ONLY as POA or POA Agent can no longer receive information or transact on this account
I can be scheduled for just one-time or even recurring payments at the touch of a button. I'll eliminate any stress you have about meeting your deadlines.
What is Bill Pay
I get no monthly maintenance fees however; you need to have a high-deductible plan in order to open this account.
What is a Health Savings Account
EFT
What is Electronic Funds Transfer
I don't need as high of a deposit to open. Places like churches or food banks would benefit from me greatly.
What is a Non-Profit Checking
It doesn't matter that I no longer have a high-deductible plan, I can still deposit money into my HSA.
False
You can use the funds or just close the account, but you can no longer make contributions into it
You can use me to make purchases securely and confidently on any smart phone device, especially when you're "on-the-go".
What is Mobile Wallet
I am not offered as a new account unless I'm "grandfathered in". I require $2500 just to open and must keep minimum $1000.00 to avoid a monthly fee.
What is a Money Market
LLC
What is Limited Liability Company
My purpose is to provide a place for attorneys to deposit client funds into in order to provide legal services to low-income individuals maybe even offer scholarships for law students.
What is an IOLTA (Interest on Lawyers' Trust Account)
An IOLTA can be opened for a lawyer who is only practicing in Rhode Island.
False
The Attorney must be practicing in Connecticut.
I'm available 24/7. I can help you manage your finances and assist with budgeting.
What is iFi Financial Management
I'm designed to hold security deposits. I can also be used for related payments such as down payments or closing costs.
What is a Tenant Account
FDIC
What is Federal Deposit Insurance Corporation
I'm designed for CT real estate brokers. My deposits are for escrow funds, and they help provide mortgage assistance for low- and moderate-income families.
What is an IOREBTA (Interest on Real Estate Brokers Trust Account)
A $5 monthly fee for paper statements will be charged ONLY to business accounts.
True
If they enroll in business online banking and sign up for eStatements, that fee will be voided