Our customer, Joe, is depositing an insurance check for $8600 into a checking account. Should we hold it if his average balance is $100? He has been a customer for 30 years and never been overdrawn.
What are the benefits of digitizing paper-based processes?
Is it possible to system generate pre-approved letters?
Our customer deposits a $25,000 Treasury check to a new checking account. Our policy says we give the customer five thousand the next day under the special rules for new accounts and the rest on the 9th business day. Is that correct?
Our bank would like to offer a 20/15, 25/15 and 30/15 loan where the interest rate is fixed for 15 years then changes one time for the remaining term. Everyone we've talked to says these are ARM loans. However, in our loan platform all ARM programs must have a subsequent rate and payment change date. Is anyone else offering these products? If so, how are they disclosing?