Funds Avaiability

7 Questions | By Cbaez3 | Updated: Sep 29, 2014

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1.

Client makes a check deposit with a Teller for $500.00 on Tuesday 3 PM (ET). The cut-off for that branch is 5 PM (ET). There is no hold on the deposit that night, but the funds are uncollected. Checks or other items presented for payment during Tuesday evening's processing will not be paid and funds can be used for cash withdrawals and purchases on Thursday.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False
2.

For a Check Deposits made at Image ATM to be available to Pay Presented Items the same night the deposit needs to be made;
- A.
  
  Before 10:00 PM (ET) Monday-Friday
- B.
  
  Before 9:00 PM (ET) Monday-Friday
- C.
  
  Before 11:59 PM (ET) Monday-Friday
Correct Answer
B. Before 9:00 PM (ET) Monday-Friday
3.

Using an ATM a client transfers funds from their savings account to their checking account at 3:30 PM (ET) on Tuesday. They can make withdrawals and purchases immediately but funds will not be available to cover items presented until Wednesday evening's processing.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
4.

How late can a client make an online banking transfer for the items presented for payment during that evening's processing to be paid?
- A.
  
  8:59 PM (ET)
- B.
  
  9:59 PM (ET)
- C.
  
  10:00 PM (ET)
- D.
  
  11:59 PM (ET)
Correct Answer
C. 10:00 PM (ET)
5.

Mobile or Tablet Deposit needs to be made Before 9 PM (ET) Monday- Friday to be available to Pay Presented items the Same Day, but clients have until 12 AM Midnight (ET) to complete a Mobile orTablet Transfer to be cover the same items.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True
6.

Client can call a teammate and transfers money from their savings account to their checking account up to____________ AM/PM (ET), for the items presented for payment on that evening to be paid. Funds are available immediately for purchases and withdrawals.

Correct Answer
12:00
7.

IVR (Voice) Telephone Banking Transfer:On Tuesday Prior to Midnight a client calls the IVR and transfers money from their savings account to their checking account. Items presented for payment on Tuesday evening will be paid. Funds are available immediately for purchases and withdrawals.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

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Current Version
Sep 29, 2014

Quiz Edited by
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Sep 28, 2014

Quiz Created by
Cbaez3

Funds Avaiability

For a Check Deposits made at Image ATM to be available to Pay Presented Items the same night the deposit needs to be made;

Using an ATM a client transfers funds from their savings account to their checking account at 3:30 PM (ET) on Tuesday. They can make withdrawals and purchases immediately but funds will not be available to cover items presented until Wednesday evening's processing.

How late can a client make an online banking transfer for the items presented for payment during that evening's processing to be paid?

Mobile or Tablet Deposit needs to be made Before 9 PM (ET) Monday- Friday to be available to Pay Presented items the Same Day, but clients have until 12 AM Midnight (ET) to complete a Mobile orTablet Transfer to be cover the same items.

Client can call a teammate and transfers money from their savings account to their checking account up to____________ AM/PM (ET), for the items presented for payment on that evening to be paid. Funds are available immediately for purchases and withdrawals.

IVR (Voice) Telephone Banking Transfer:On Tuesday Prior to Midnight a client calls the IVR and transfers money from their savings account to their checking account. Items presented for payment on Tuesday evening will be paid. Funds are available immediately for purchases and withdrawals.