Most Popular Operations Content
HELOC Visa Referral and Rewards Program
11/05/2007
We are looking into setting up a referral and rewards program for our HELOC Visas. We would like to both give our members a $50 gift card upon closing of a HELOC, as well as pay out $50 gift cards for referrals that end up booking. I hear different stories about limitations being either $25 or $600. Are there limitations? What would the dollar amount be?
Bonuses on an Account
10/29/2007
Our Marketing department would like to have a promotion in which certain new deposit accounts are given free movie tickets if they mention seeing the ad. I know that if it's for a demand deposit account, we'll have to stay within the dollar amounts set by 217.101. Marketing would like to see this as an on-going thing. Mail these customers free movie tickets periodically (as often as allowable) while the account is open.My question is in regard to (a)(1) of 217.101. I know we can do it at account opening, but I'm reading that for the periodic bonuses to go out that there must be a renewal or at least an addition to the account. I'm not familiar with the concept of a demand deposit account renewing. What would qualify under those categories? Also, how would this situation change if we were talking about non-demand accounts?
Cashing On-us Checks for Non-customers
10/29/2007
Are there any regulations regarding a financial institution's cashing of "on-us" checks for non-customers? Any limits on the fee that can be associated with that service? What is a typical fee for such a service?
Check Cashing by Business Account Signer
10/29/2007
Can an individual cash a check written to the individual against a business account they are a signer on?
POA on a Trust Account
10/29/2007
Can a trust account have a POA? We have a certificate of deposit in the trust's name and they want to have a POA on the account.