First Direct
What are 3 benefits of First Direct?
CD interest rate bonus (0.05%), no annual fee on HELOC, 2 NSF/OD fee items waived, $250 discount on mortgage closing costs, retirement consultation, 25% discount on safe deposit box
What is Financial Literacy?
It is the education FMB provides to the area's employees to promote financial wellness.
What does HSA mean?
Health Savings Account
What are the 3 ways that a customer can register for RAF?
Physical brochure, phone, online
Do all employees that work for a Workplace Banking enrolled company qualify for the $200 MasterCard?
No, the company first has to be registered with ReferLive.
Who is eligible to open a First Direct account?
Employees of participating businesses, first responders, military and veterans, FMB employees
Does a company have to bank with First Merchants Bank in order to qualify for our financial literacy program?
No! And it does not cost the employer a dime!
Who is eligible for an HSA?
Someone with a high deductible health plan.
What are the dollar amounts for the person referring and the person being referred?
$50 MasterCard for the referred friend and for existing customer.
What are the 2 requirements the customer must complete in order to receive the $200 MasterCard?
They must have a one time direct deposit of $500 or more and have 15 debit card transactions within 60 days. (Does not include ATM transactions.)
What is the fee if you do not meet the qualifications to keep a free First Direct Account?
$10 / month
What are 2 reasons why an employer would want to provide financial literacy?
Productivity, absenteeism, retention, recruitment, healthcare costs, etc.
What is 1 benefit of an HSA?
Reduced taxable income, grows tax free, roll over money year to year, not tied to your employer
The person being referred must be new to the bank. What are the 2 qualifications that must be met for the new checking account?
The account must be opened with a deposit of $100 or more and complete 15 debit card transactions (excludes ATM transactions)
What is a good way to mention the promotion to your customers?
Can I ask where you work? We have an enhanced $200 promotion for employees that work for companies that are enrolled in our workplace banking program. (or something similar!)
How do you keep the account free?
A minimum of a $200 direct Deposit and E-Statements.
What are some good times an employer can find to hold a financial presentation?
Safety meetings, monthly or annual meetings, optional sign ups for lunch and learns.
How much can you contribute to an HSA?
$3500 single, $7000 family, over 55 an extra $1000.
What is the maximum a client or employee can earn for RAF each year?
They can earn up to $500.
Where can you find the list of companies that are registered for the $200 WPB promotion?
On the Sales Shared Drive
Lakeshore Region
Copy of WPB Codes
Kellys Codes
What are 3 benefits of having a First Direct checking account only available to FMB employees?
Processing and underwriting fees are waived for primary mortgage except for pass thru fees, Installment loan discount - .05%, Free checks
Banking basics, budgeting/savings, credit check, lending, retirement/investing.
What is the fee for a paper statement?
$5.00
How can you register a customer for RAF and get credit for your banking center?
You can get credit by filling out the physical brochure and scanning it to registrations@referlive.com
How do you get a virtual code if your customer prefers not to accept physical buck slips?
You ask Kelly for the code.