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24 Cards in this Set
- Front
- Back
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True or False: A member can "opt out" of receiving promotional information in the mail through the Vancity website.
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True
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True or False: The maximum allowable share limit is $1000 per member.
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True
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True or False: All business accounts pay a monthly administration fee of $6.
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False |
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True or False: Investments Savings, Easy Save and Shared Growth Chq are all grandfathered
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True |
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True or False: The standard hold time for Vancity cheques cashed at a Vancity branch to other member's accounts is 7 days.
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False |
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True or False: A hold funds can only be requested by another Credit Union.
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True |
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True or False: 30 day lockout mean the term is cashable with interest after 30 days.
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True |
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True or False: The 5 year escalating term is only available for registered terms (RRSP, RRIF, RESP)
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True.
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What is the total amount that a member is eligible to be insured for AND what is NOT insured?
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100% and mutual fund and membership shares not eligible.
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List 3 different access codes on a Vancity member's account. Include the code criteria AND what the code is used for.
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MIC- Verbal password used for verification purposes PAN- Number on card |
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What is the cycle date and what happens on the cycle date?
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Every branch has a different cycle date when statements and other admin work is done and sent out. Fees are also charged on this day once a month. |
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Name the 3 Vancity chequing and savings accounts and a feature on each. -J -N -P |
J-US Dollar- Earns interest in US$ N- Jumpstart Savings- Earn highest interest for savings account P- Plan 25- 10 free everyday transactions per month. |
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A member calls in complaining that they paid $25 in service charges on their chequing account last month. They never have more than $1000 in their account and they do most of their transactions through Online banking and their ATM card.
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- E-Package - 7$/inlimited electronic transactions - 1 FREE In-Person transaction per month - good for tech saavy - good for independent members safer because carrying less money. |
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An RBC rep is calling you to verify funds. What can you say to RBC rep and what can you not say?
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Can not say: account details |
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Name 6 pieces of information that you need in order to proceed with a stop payment.
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2. Check to see if it went through already 3. Remind member of fees 4. Ask cheque details (number, date, amount) 5. Acknowledge waiver 6. Charge account. |
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What is max $$ youre aloud to transfer in members account and is it okay to do with joining accound set up to :either to sign"?
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- Yes |
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How much is the Standard ATM online/offline Limit? |
$600 |
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List 6/8 things you should find out before releasing a hold funds? |
2. How long a member? 3. Full or partial amount needed? 4. Frequent cheques? 5. Check NSF and Chargebacks 6. Why do they need? |
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List 4 Vancity Term Deposits with 1 feature and 1 benefit. |
Cashable: F- min $500 B- Flexible/affordable Shared World Fixed: F- min $100 B- Peace of mind, helps international communities Redeemable: F- Short term $5000 min (30-364 days) Long term $500 min (12months-60 months. B Flexible/affordable (not recommended) |
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What is a mutual fund?
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A professionally managed group of investments where the money is pooled and invested into a variety of stocks, bonds, GIC's and other securities. |
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Member calls in looking to invest the $5000 they have sitting in their chequing account. They're willing to take a little bit of a risk in order to get a better return on their money. They ask if Vancity sells stocks. What will you recommend to this member?
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Market Stretch - Min $1000 - 5 year term - Has risk because dependent on the marked - Possibility of larger return than Market Stretch but Market Stretch guarantees principle. |
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What's STF, GLD, JUN, ORG, REG, SP1, BUS
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GLD-Members who are 55+ JUN- Members 19 and under ORG- Community Service Account REG- Members between ages 25-54 SP1- Disabled Members BUS- Business Account |
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What's PKG?
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$7 / Month unlimited electronic transactions |
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Whats REG? |
No monthly fee, pay per transaction. |
