Enhanced personal checking and savings account lineups and new services to boost savings and financial literacy take effect for new clients on May 11, 2023. The Student Checking account type will be discontinued.
Click on the following links for additional details:
- Level Up Accounts
- Discussing Level Up Checking
- Discussing Level Up Savings
- Evolve Accounts
- Discussing Evolve Checking
- Discussing Evolve Savings
- Making Cents: Round-Up Saving Service
Level-up / Evolve Checking & Savings account questions:
Can a client that is currently in a Student Checking Account product change to Level Up or Evolve BEFORE the big conversion?
YES
To move from Student Checking to Level up before the BIG conversion, Associates will need to close the existing Student Checking account and open a new Level Up Account
To move from Student Checking to Evolve before the BIG conversion, Associates can submit a Product Type Change Synapsys Service Event -
If a client (18-25) already has an Everyday Savings or Basic Savings account, can you change the product type to the Evolve Savings account type?
YES
Associates can submit a Product Type Change Synapsys Service Event -
With the moving of clients from Student Checking to Evolve, will the account number change?
NO
The account number stays the same when requesting a product type change.
Also, the account number will stay the same when we do the BIG conversion of all student checking accounts to either the Level-up or Evolve checking account type product (depending on the age of the client).
Do we require a 13 - 14 year old to obtain a valid state ID to open a Level Up Account?
No.
A valid state ID for the minor is recommended, but not required, for opening a Level Up account.
What account type does Evolve Checking automatically change to when the client reaches the account age limit?
At age 26, clients in the Evolve Checking Account will change to Everyday Checking and notification to the client is sent.
Evolve Savings will change to Basic Savings.
Are there any restrictions on debit cards for the Level-Up accounts?
NO
Standard debit card limits apply.
Regarding the Foreign ATM Fee Waivers for Evolve accounts, how will this be displayed in the transaction history?
The fees will not appear at all in the transaction history. The first 3 foreign ATM fees per month are automatically waived.
Third party fees still apply.
Example: A CCB client with an Evolve Checking account visits an ATM located at a Bank of America (foreign ATM). The $2.00 CCB foreign ATM fee will be waived (if within first 3 per month), however any fees charged by Bank of America will still apply.
If a parent/guardian has a consumer account and opens a Level Up Savings account for their child, can the parent have their Making Cents Round up deposited in the Level Up Savings account?
YES
As long as the parent/guardian is a signer on both accounts, they can enroll their consumer debit card into Making Cents and set the Level Up Savings account as the secondary account.
Making Cents: Round-up Savings Service Questions:
A client's Making Cents service has stopped - what do I do?
Associates will need to determine why the round up service stopped (new debit card number, closed primary or secondary receiving account, etc.)
Submit a DS - Making Cents Synapsys Service Event
What happens if there are Not Sufficient Funds to cover the Round Up posting?
If the Round up will result in an account being overdrawn - then the round up will NOT occur.
If the account is overdrawn AT End of Day - the round up entry will not be generated.
If the account has sufficient funds AT End of Day - the round up entry will post.
When does the Making Cents Round Up Post to the Account?
AT EOD (End of Day) is a cutover time that is specifically for card transactions and is separate from the bank’s regular EOD nightly processing and dictates when card transactions will actually settle/hard post to a client’s account.
This cutover time is set by our card processor, Visa DPS, and is currently 10:00 a.m. Example, a debit card transaction completed on Wednesday at 11:00 a.m. (after 10 a.m. cutoff) will memo post immediately, but not settle/hard post until Thursday evening. During AT EOD is also when the eligible making cents round up transaction appears on the account. It will only appear when a transaction is set to hard post/settle that evening. Meaning, at 10:00 a.m. on Thursday the round up transaction will memo post to the account and both transactions will settle/hard post that evening.
Another example, a debit card transaction completed on Wednesday at 8:00 a.m. (before 10:00 cutoff) will memo post immediately, at 10:00 a.m. the eligible making cents round up transaction appears on the account, and both transactions will settle/hard post that evening.
Really the new equation to this process that associates will have to be familiar with is the fact that the Making Cents Round Up is driven by AT EOD and that includes when the system reviews the account to see if they have enough funds, available balance (minus any bounce), to pay the “settling/hard posting” round up amount. If the system indicates they do not have enough to cover the round up amount, it will not round up and the Making Cents transfer will not happen.
Note: The examples provided are of pinned transactions (no Pre-Auth). Keep in mind that a signature-based transaction has two parts, a Pre-Auth and a Completion. The Completion is usually received hours, possibly days, after the transaction is pre-authorized. Round up is only calculated on completed transactions. So the timing of when the completion comes in is what will dictate which example is applicable.
Can Making Cents: Round Up go into a secondary account that you are NOT a signer on?
NO
The client must be a signer on both the primary and secondary accounts to enroll in Making Cents.
If a client is enrolled in Making Cents, what happens to the ‘round up cents’ in the event of a fraud dispute?
Be sure to follow all standard procedures for handling fraud. See Creating a Centrix Dispute - Fraud.
The ‘round-up cents', once posted to the secondary account, will stay there. Have a conversation with the client to determine if they would like to transfer the ‘round-up cents’ from the secondary account back to the primary account.
When enrolled in Making cents and using a debit card at a merchant with tipping options, will the round up be based on the original swiped amount or the finalized total with the tip?
Round-up calculations will be based on the final transaction amount (after the tip).
Are business or DBA accounts eligible to enroll in Making Cents?
NO
The Making Cents Service is available for our consumer debit card transactions ONLY.
However, you can assign a business account as the secondary receiving account.
If there are multiple signers with debit cards on an account, are all cards eligible to enroll in Making Cents?
YES
A Synapsys Service Event must be submitted for each consumer debit card that would like to enroll in Making Cents.
Each signer/debit card holder can choose which secondary account they would like their round-up transactions to go to.