First Direct
What are three 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 (Wellness)?
It is the education FMB provides to the area's employees to promote financial wellness.
What does HSA mean?
Health Savings Account
True or false.The minimum amount for direct deposits is $300.00?
False.. $200.00 Direct Deposit requirement.
How can you access your HSA funds?
HSA Card
Checks
Bill Pay
Who is eligible to open a First Direct account?
Employees of participating business, first responder, military and veterans
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! It is s free service FMB provides for our community.
Who is eligible for an HSA?
Someone with a high deductible health plan.
How do you keep the account free?
Have a Direct Deposit ($200.00 or more at least once in a statement cycle) and E-Statements
Why is it important to have the First Direct Enrolled Company list available?
To identify opportunities at the banking center, inform the customer the benefits and features of the account, promote conversation, etc.
What is the fee if you do not meet the qualifications to keep a free First Direct Account?
What are 2 reasons why an employer would want to provide financial literacy?
Increases Productivity, helps with employee retention , absenteeism, helps to assist in 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
Where should you go to log your Workplace Banking (First Direct ) activity?
Connections (HUB)
How much can a customer earn to refer a friend to FMB?
$50.00
True or False.. The business must be a client of the bank?
False. The business does not have to be a client (direct deposit is a requirement)
What are some good times an employer can find to hold a financial wellness workshops?
Anytime they have availability for their workforce.
Safety meetings, monthly or annual meetings, optional sign ups for lunch and learns.
How much can you contribute to an HSA?
–2019 contribution limit for an individual H S A is $3,500
–2019 contribution limit for a family H S A is $7,000
–2020 contribution limit for an individual H S A is $3,550
–2020 contribution limit for an family H S A is $7,100
Where can you find the Company Plan Code for a First Direct Employer?
LaunachPad-Consumer Banking-Sales & Service-Workplace Banking-Enrolled Companies
Under the Workplace Banking Refer-a-Friend program how much can a customer get if they open a First Direct Account?
$200.00 (one deposit of $500.00)
* Onsite or virtual presentation viewed
True of False... Can you customize the First Direct Flyers?
True..
What are 3 subjects our financial literacy programs cover?
Banking basics, budgeting/savings, credit check, lending, retirement/investing.
Double Jeopardy.
What is the penalty if you do not use your HSA for qualified medical expenses?
20% (Federal Penalty) -audited
What is your First Direct Goal?
(Will be according to banking center)
Name 1 Workplace Banking enrolled company.
Various answers