Configuring Deposit Item Fees (2)

Description

This configured field refers to the dividend application that the members must have to have to trigger the fee. This is also the account that the fee will be assessed to. This allows you to create different fees for different checking and savings dividend applications.

• If the number 99 is entered in this field, which is the conversion default, then one only one Deposit Item Fee can be configured and separate dividend deposit item fees cannot be configured.

• Assign as many Deposit Item Fees as desired to different dividend application. Both checking and savings dividend applications can be configured for Deposit Item Fees. For example, you might create two different Deposit Item fees for both SD and CK dividend applications, as well as a third one for a SH dividend application.

This description will appear on member inquiry screens and statements for any transactions incurring this fee.

Service Charges

These fields govern how and when fees are assessed.

• IMPORTANT: Fees are assessed differently depending if individual deposit item fees are configured or if one (Dividend Application=99) is configured.

• Deposit Item Fee with a dividend application of 99: Because these fees are not tied to an actual dividend application, the posting of fees starts with the member’s lowest checking account suffix number. If funds are not available from that account, the system proceeds to the next highest checking account suffix, and so on, looking at all checking accounts. If no funds are available in any checking account, the system will look to the Regular Share suffix (000). If the account is NSF, the fee will force a negative post. If the account is frozen, the member will be listed on an exception report for credit union follow-up.

• Deposit Item Fee with specific dividend application assigned: Because these fees are assigned to an actual dividend application, the posting of the member's fees is assigned to the first account the system finds of that dividend application type, and so on looking at all accounts with that dividend application. Then, if no funds are available, and this account is NSF, the fee will force a negative post. If funds are not available in the account to cover the fee or the account is not NSF (or is frozen), then the member will be listed on an exception report for the credit union to follow up. In this case, the system will not look in the Regular Share suffix (000) for the Deposit Item Fee.

The G/L income account where the fee is credited.

This field indicates how many items can be deposited without incurring any fees, as well as what fee will be charged for each frequency determined on this screen. This charge works in conjunction with the Purge field which is set on the previous screen.

First set the number of free checks by entering a number in the first “To” field. Then continue to enter frequency amounts in the “To” fields until all Fees are entered.

• NOTE: Always finish with 99999 in the final “To” field.

This check box determines how the fees are assessed. For example if the charges were as follows:

1-10 checks – Free

100-249 checks – 0.07 charge

250-99999 checks – 0.05 charge

If Plateau is not checked, then the fees will be assessed at the top level after giving the member his or her fee checks. Using the fee schedule above, if the member cashed 250 checks, then after 10 free checks, he or she would be charged 0.05 for the remaining 240 checks, charging the member $12.00.

However, if Plateau is checked, the member will be charged for each level of Deposit Item Fees. In this scenario (using the fee structure above), If the member cashed 250 checks, then 10 would be free, 239 would be charged 0.07 and one final check (the 250th!) would be charged 0.05 for a total of $16.78.

Fee Waivers

These fields govern if and when fees will be waived. All fields are required.

• CU*TIP: Fees that are waived because of these parameters will be recorded in the Fee Waiver Information file (FWHIST) and can be viewed using the Fee Waiver Information Report.

Enter an age. Any member at or below this age will not incur fees for deposited items. If the field is set to 0 (zero), all ages below the High Age will be charged.

• For example, if you want to waive the fee for children age 18 and under, enter 18 here. Anyone age 19 and older will be charged.

Enter an age. Any member at or above this age will not incur fees for deposited items. If the field is set to 999, all ages above the Low Age will be charged.

• For example, if you want to waive the fee for seniors age 55 and older, enter 55 here. Anyone age 54 and younger will be charged.

Enter the aggregate savings amount (for ALL savings and certificate accounts, including IRAs and tax escrow accounts) needed to waive the fee. Any amount equal to or greater than this amount will not incur fees, so it is not recommended that you enter 0.00 in this fiels. To charge this fee regardless of aggregate savings, enter all 9’s in this field.

Enter the aggregate loan amount (for all loan and open credit accounts) needed to waive the fee. Any amount equal to or greater than this amount will not incur fees, so it is not recommended that you enter 0.00 in this fiels. To charge this fee regardless of aggregate loans, enter all 9’s in this field.

Enter a dollar amount. The system calculates the average aggregate balance for all savings-type accounts throughout the entire dividend. Fees for deposited items would be waived for any member whose total equals or exceeds the amount in this field. To charge fees regardless of the aggregate savings, enter 999999999.

• NOTE: For all savings accounts, including IRAs and tax escrow accounts, the average is used. For certificate accounts, the current balance is used instead, since an average balance is not tracked for certificate accounts.

• Use this field OR the Aggregate Savings field, not both.

If you wish to waive the fee for members who have certain types of accounts or cards, place a check mark in one or more of these fields.

• ATM card - Waiver for ATM card. For online ATM card, card must be in active status (not, for example hot carded) for fee to be waived.  For Off Trial Balance (OTB) ATM card, waives if a card is present, regardless of status.

• Debit card - Waiver for debit card. For online debit card, card must be in active status (not, for example hot carded) for fee to be waived.  For Off Trial Balance (OTB) debit card, waives if a card is present, regardless of status.

• Credit card - Waiver of fee for credit cards.  For online credit card, the loan must have a Process Type of V (credit card) with a status of Active (A) and not be written off (WRTOFF of 0) for fee to be waived.  For Off Trial Balance (OTB) credit card, waives if a card is present, regardless of status or balance.

• OTB savings acct - Waives fee if member has Off Trial Balance (OTB) savings account, regardless of status or balance.

• OTB loan acct - Waives fee if member has Off Trial Balance (OTB) loan account, regardless of status or balance. 

Description

Use this option to save the currently configured Deposit Item Fee.

Use this option to return to the Deposit Item Fee Configuration screen.