Friday Follow Up 8.29.2014

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| By Kata2012
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Kata2012
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Quizzes Created: 1 | Total Attempts: 82
| Attempts: 82
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  • 1/10 Questions

    If a caller requests a supervisor, you must do the following:

    • Tell them you are a supervisor
    • Let them know you spoke with the supervisor and they will tell you the same thing
    • Give an additional offer of assistance to resolve the issue, if the merchant declines, transfer the call to an available supervisor
    • Immediately transfer the call to an available supervisor
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About This Quiz

The 'Friday Follow Up 8.29.2014' quiz assesses knowledge on customer service procedures, focusing on merchant statement handling, supervisor call requests, and processing frequency changes. It is designed to enhance problem-solving and communication skills in a business context.

Friday Follow Up 8.29.2014 - Quiz

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  • 2. 

    What is a NACHA Block?

    • When Funds are being held in order to pay off a collections issue

    • When an account is placed on reserve because of an IRS TIN mis-match

    • When funds are returned by the receiving bank due to a stop or hold placed on the account.

    Correct Answer
    A. When funds are returned by the receiving bank due to a stop or hold placed on the account.
    Explanation
    A NACHA Block refers to a situation where funds are returned by the receiving bank due to a stop or hold placed on the account. This means that the bank has decided to prevent any further transactions on the account, either temporarily or permanently, due to certain reasons such as suspicious activity, fraud, or legal issues. The funds are held back to ensure that any potential issues are resolved before allowing further transactions.

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  • 3. 

    True or False, a customer service representative can resend a cancellation letter to a merchant.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    A customer service representative can resend a cancellation letter to a merchant because they have the authority and access to the necessary resources to perform this task. They can retrieve the original cancellation letter, make any necessary edits or updates, and send it again to the merchant. This allows for effective communication and ensures that the cancellation request is properly received and processed by the merchant.

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  • 4. 

    What needs to be included in TMS notes? (check all that apply)

    • Who called

    • Why they called

    • The time and date of the call

    • The advice you provided

    • How the call was resolved

    • Any necessary follow up needed

    Correct Answer(s)
    A. Who called
    A. Why they called
    A. The advice you provided
    A. How the call was resolved
    A. Any necessary follow up needed
    Explanation
    The TMS notes should include information about who called, why they called, the advice provided, how the call was resolved, and any necessary follow-up needed. Including these details in the notes helps to maintain a record of the communication, provide a reference for future interactions, and ensure that any necessary actions are taken.

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  • 5. 

    True or False, we need 6 months of processing before we can switch a merchant's discount frequency

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because we do not need 6 months of processing before we can switch a merchant's discount frequency. The actual processing time may vary depending on the specific circumstances and requirements, but it is not a fixed duration of 6 months.

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  • 6. 

    What is the SLA to update the discount frequency of a global account?

    • 24 hours of less

    • 24-48 hours

    • 48-72 hours

    • It is effective the beginning of the next billing cycle

    Correct Answer
    A. 24-48 hours
    Explanation
    The SLA (Service Level Agreement) to update the discount frequency of a global account is 24-48 hours. This means that once a request is made to update the discount frequency, it should be completed within this time frame.

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  • 7. 

    Who can you email a merchant's statement to?

    • The Agent

    • The Merchant

    • The Merchant & The Agent

    • None of the Above

    Correct Answer
    A. The Merchant & The Agent
    Explanation
    The correct answer is "The Merchant & The Agent." When emailing a merchant's statement, it is important to send it to both the merchant and the agent. The merchant needs to review the statement to ensure accuracy and reconcile any discrepancies, while the agent needs to have a copy for record-keeping purposes and to provide support if any issues arise. By sending the statement to both parties, it ensures that all relevant individuals have access to the information and can take appropriate actions as needed.

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  • 8. 

    What is the term for funds that are being held because of the following: The bank account is closed or is unable to be located.

    • Good Money

    • NACHA Block

    • Collections issue

    • Risk issue

    Correct Answer
    A. Good Money
    Explanation
    Good Money refers to funds that are being held because the bank account is closed or unable to be located. This term implies that the funds are legitimate and should be returned to the rightful owner once the account is reopened or located. It suggests that the funds are not associated with any collections or risk issues, but rather a temporary situation related to the bank account.

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  • Current Version
  • Nov 15, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 27, 2014
    Quiz Created by
    Kata2012
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