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B > Checking/Savings Accounts > Flashcards

Checking/Savings Accounts Flashcards

1
Q

What are the three checking accounts?

A

Access, Balanced, Choice

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2
Q

What is the withdrawl limitation for Savings and Select Money Market accounts? What is the fee for exceeding?

A

Withdrawl limitation- 6
Fee- $6

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3
Q

What is the daily balance to keep a balanced checking account free?

A

$1,000 daily balance

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4
Q

Savings accounts are not designed to be __________ accounts.

A

Transactional

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5
Q

What is the minimum to open a Choice Checking account?

A

$100

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6
Q

What is the paper statement fee for an Access checking account?

A

$4

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7
Q

What are the three Savings accounts?

A

Associated Savings
Relationship Savings
Select Money Market

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8
Q

What are the 4 accounts that can gain interest?

A

Choice Checking
Associated Savings
Relationship Savings
Select Money Market

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9
Q

What is the Out of Network ATM fee for a Select Money Market account?

A

2 free withdrawals then:
$3 withdrawal
$2 balance
plus owner surcharge

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10
Q

What is the monthly maintenance fee on a Select Money Market account?

A

$16

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11
Q

What must you do in order to have your cell phone covered via the World Debit card cellphone protection plan?

A

pay last 2 cellphone bills with World Debit Card

(covers up to $600 if phone is lost, stolen or damaged)

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12
Q

How can a customer waive the monthly maintenance fee on an Associated Savings account?

A
  1. maintain $300 daily balance
  2. $25 recurring automatic deposits
  3. Under the age of 18
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13
Q

What is the overdraft grace zone for an Associated Choice Checking acocunt?

A

$50

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14
Q

List the benefits of having the World Debit card

A
  1. Cellphone Protection Plan
    2.Free Boingo WIFI account ($14.95)
  2. ID Fraud Expense Reimbursement (up to $1,000 if victim of identity theft)
  3. Shopping Benefits (extended warranty, purchase assurance, satisfaction guarantee)
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15
Q

What is the monthly maintenance fee for a Choice Checking account?

A

$25

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16
Q

What are the Out of Network fees for an Access Checking Account?

A

$3 withdrawal
$2 balance
plus owner surcharge

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17
Q

What are the ways to waive maintenance fees for an access checking account?

A

none (free account) but can go paperless to avoid $4 paper statement fee

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18
Q

What are the ways to keep a Choice Checking account free?

A

1.Maintain a $10,000 in combined deposit accounts
2. Presence of either an HSA or investment account

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19
Q

How can a customer waive the monthly maintenance fee on an Associated Relationship Savings account?

A

Maintain a $10,000 daily balance

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20
Q

What is the monthly maintenance fee for a Select Money Market?

A

$16

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21
Q

What is the minimum to open an Associated Savings account?

A

$25 ($10 for a minor)

22
Q

What type of debit card does an Access Checking account have?

A

Platinum debit card

23
Q

What is the monthly maintenance fee for a Relationship Savings account?

A

$20

24
Q

What is the benefit for an Associated Choice Checking account customer when purchasing a gift card?

A

No fee ($2.50 fee waived)

25
Q

What is the proper way to quote a rate?

A

“As of , the Annual Percentage Yield is x.xx%, based on an Interest Rate of x.xx%”

26
Q

How can a customer waive the monthly maintenance fee on a Select Money Market account?

A

Maintain a $1,000 daily balance

27
Q

What’s the monthly maintenance fee for an Access Checking account?

A

no fee ($4 paper statement fee)

28
Q

What is the minimum deposit to open a Select Money Market?

A

$1,000

29
Q

A Relationship Savings account can be kept free with the balances of a linked checking account. True or False?

A

False

30
Q

What is the Out of Network ATM fee for an Associated Savings Account?

A

2 free withdrawals then $3 withdrawal, $2 balance inquiry plus owner surcharge

31
Q

How much does it cost to open a Balanced Checking acocunt?

A

$100*
*or whatever it takes to make the account useable/functional

32
Q

What is the minimum daily balance to keep a Relationship Savings account free?

A

$10,000 daily balance

33
Q

How much does a direct deposit or snap deposit need to be to waive the maintenance fee on a Balanced account?

A

$500

34
Q

What is the fee for an overdraft on an account?

A

$32

35
Q

What is the monthly maintenance fee for a Balanced Checking account?

A

$9

36
Q

What is the required daily balance to keep a Choice Checking account free?

A

$10,000 daily balance in combined deposit accounts

37
Q

What are the additional benefits of Choice Checking accounts?

A
  1. Up to 4 linked deposit accounts with no monthly maintenance fee
  2. Preferred CD, money market, and savings rates
  3. No fees on gift cards
  4. Free cashiers checks and money orders
  5. 2 free boxes of personal checks
  6. Enhanced overdraft grace zone ($50)
  7. Waived ATM fee (2 ATM fee refunds)
  8. Enhanced Funds Availability
  9. World Debit Card
  10. Free paperless statements
  11. Interest Earning
38
Q

An Associated Balanced Checking account has a monthly paper statement fee. True or False?

A

True- $4

39
Q

Reg CC Funds Availability

A

All New Accounts during the 1st 30 days: $100 available immediately, remaining amount of check available in 5 business days

After 30 days:
Access/Balanced: $100 immediately, up to $5525 next business day, remainder in 5 business days
Choice: up to $5100 available immediately, $525 next business day, remainder in 5 business days

40
Q

An Associated Choice checking account has a monthly paper statement fee. True or False?

A

False- no fee

41
Q

What’s the minimum deposit to open an Access Checking account?

A

$25

42
Q

What is the out of network ATM fee for a Balanced Checking account?

A

$3 withdrawal, $2 balance, plus owner surcharge

43
Q

What is the daily balance to keep a Select Money Market free?

A

$1,000 daily balance

44
Q

Is there a paper statement fee for a Balanced Checking account?

A

Yes- $4 (free for 65 and older)

45
Q

Which checking account gives free paper statements for 65 and older?

A

Balanced (and choice)

46
Q

What is the monthly maintenance fee on an Associated savings account?

A

$5

47
Q

How much must you keep linked in accounts to keep a balanced checking account free?

A

$2,500

48
Q

What is the minimum deposit to open an Associated Relationship Savings account?

A

$25,000 new money

49
Q

What four ways can a customer waive the monthly maintenance fee on an Associated Balanced Checking account?

A
  1. Maintain a $1,000 daily balance
  2. Maintain a $2,500 daily balance in all accounts
  3. Direct deposit of $500 or more per statement cycle
  4. Mobil deposit of $500 or more per statement cycle
50
Q

Access checking accounts are ________ based and can initiate payments ____________.

A

Cash/Electronically

51
Q

There is a specialized savings account called

A

zero interest savings

B (4 decks)

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