Online Banking Product Defaults - Share Products

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UPCSHD-01

Share Account Setup

2636

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This screen appears when Online Banking is used on the Share Account Dividend Rate screen.

This screen is used to define exactly how the share product should appear and behave when shown in the It’s Me 247 online banking Share Rate Board as well as the Audit Response menu. Complete all fields, then use Enter to save all changes.

For complete details about setting up share products so that they can be opened by members using It’s Me 247 online banking, including a sample of the online banking Share Rate Board, refer to the Selling Products Online booklet.

To enter the product sales information that will appear when the member views information about this account, use Sales Info (F11). After sales information has been entered, use the up arrow (Cancel/F7) here to display the next new item in sequence (if any) or return to the share product list.

Field Descriptions

Field Name

Description

Availability

P Purchase - If you wish to allow members to open this type of account immediately on line using online banking, enter “P” here. On the share product Rate Board the member will be allowed to click “Open New Account” for this item and proceed to the account opening screens.

  • NOTE: Because of the many regulations surrounding opening IRA accounts, this option cannot be used for IRA account types.

I  Info only - Enter “I” if you do not wish members to be able to open this type of account on line, but still wish to display its rate and sales information for review in online banking.

In either case, members can view your configured product sales information to read more about this product, such as how to open the account at the credit union if it is not available on line.

  • Note on Restricted Accounts:  A sub account cannot be offered online for purchase if certain membership designation types are restricted from opening it. It can be Info only.  Learn more here.

Description

This field will automatically display the description from the Dividend Application. You may use this description, or change it to any description you wish to see in the online banking Savings Rate Board. For example, if the default description reads “CHECKING” you might wish to display “NO FEE CHECKING” instead on the online banking Rate Board.

Minimum Opening Deposit

If you wish to require a minimum transfer deposit into this account in order to open it on line, enter the minimum amount here. This will require the member to enter at least this amount in order to continue opening the account. For example, you might wish to require a minimum deposit of $10.00 in order to open a Christmas Club account, but not require any minimum deposit for a new sub-share account.

If this is set to 0, the member can still elect to transfer funds to open the account, but will not be required to do so.

  • This field is used only if Availability is set to “P” for Purchase.

Allow Overdraft Protection

These fields are used to specify how overdraft protection can be set up on the account, to adhere to your internal credit union policies.

If you wish to allow a member to choose one or more of his other accounts to use as overdraft protection for this new account, choose Yes here and use the remaining fields to specify how many accounts can be selected and which account types should be made available.

If you do not wish to allow a member to select overdraft protection accounts here, choose No instead. (A CU employee may still choose to activate overdraft protection on this account manually at a later time, of course.)

  • These fields are used only if Availability is set to “P” for Purchase.

How many accounts

Use this to specify the maximum number of accounts that can be selected for overdraft protection on this account.

  • For example, if credit union policy dictates that members can use only their Overdraft LOC account as overdraft protection, enter 1 here and use the Loan Categories field to enter the category code for your Overdraft LOC product.

Dividend Applications

Use this to specify which share account types, if any, can be used as overdraft protection. Enter up to four dividend application codes.

  • For example, if credit union policy dictates that members can use their base share account and their Overdraft LOC as overdraft protection, enter 2 in the How many accounts field, enter your base share dividend application (usually SH) here, and use the Loan Categories field to enter the category code for your Overdraft LOC product.

Loan Categories

Use this to specify which loan types, if any, can be used as overdraft protection. Enter up to three loan category codes.

·     For example, if credit union policy dictates that members can use their Overdraft LOC account as overdraft protection, enter the code for that loan category here.

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#UPCSHD-01.htm