Products, Services, Fees for First Horizon Banking Centers
Total Page：16
File Type：pdf, Size：1020Kb
Products, Services, Fees For First Horizon Banking Centers CONSUMER CHECKING PRODUCTS FirstView SmartView TotalView Checking Checking Checking Earns Interest No Yes Yes Service Charge $0 $15 $40 $25 (Effective 6/1/2021) Service Charge N/A 1 direct deposit or ACH/bill $25,000 (Effective 6/1/2021 Waiver Requirements pay $15,000) checking balances AND one of: AND 1 direct deposit or $5,000 avg. account ACH/bill pay balance AND one of: $25,000 relationship $100,000 total deposits, deposits (incl. wealth) wealth and loan $2,500 in credit card balances (Effective spend (eff. 6/1/2021) 6/1/2021) $5,000 monthly debit + credit card spend Key Benefits No Requirements No Requirements: No Requirements: Free linked Free linked Consumer Foreign ATM Fees Traditional Money Market Account waived Savings account Foreign ATM Fees Other deposit accounts waived have no monthly service With Service Charge Waiver charge fees Requirements: Free Paper Statements Premium interest on Higher debit card limits account balances Ability to link to Tenure‐based premium investment accounts interest on first $25,000 Premium interest on in account balances account balances With Service Charge Waiver Requirements: Premium interest on linked TotalView Money Market account Ancillary Benefits Cashier’s Check N/A $0 $0 Harland Clarke Checks N/A $0 – Standard $0 – Standard 25% discount on other styles 50% discount on other styles Paper Statements N/A N/A $0 ‐ Image (front) eStatements ‐ $0 $1 – Conventional (front and back) Wires N/A N/A $25 discount per cycle Safe Deposit Box N/A 50% discount (any size) 100% discount (any size) April 2021 CONSUMER CHECKING PRODUCTS Checking Product Job Aid Terms: Features – facts about the product. How it works. Same for every person who uses the product. Benefits – Shows the value of a product relative to their specific need(s). Tenure – The duration of the customer’s relationship with the bank, including any account type. Service Charge Refund Requirements – Actions that must be completed each statement cycle in order to have the associated service charge refunded and receive the Below the Line features. Above the Line – Key features offered with an associated account that the customer receives automatically Below the Line – Key features offered with an associated account that require the customer to meet the Service Charge Refund Requirement to receive. Relationship Rewards – This describes the way we are facilitating things like fee refunds and interest payments for our new checking products. o Over time this will allow us to build and adjust new products, programs, and promotions faster and with more unique offerings based on many different customer characteristics, such as geography, special programs, depth of relationship, and tenure. o Nothing is necessary for the customer to get the benefits of Relationship Rewards with their checking product(s). Customers automatically receive relationship reward eligibility by having one of the new checking products. There is no enrollment, no redemption, and no action required by the customer. Additional Notes: FirstView Checking Account Service Charge / Linked Savings By offering a linked savings account, we are able to provide a positive value proposition for the customer to help him/her achieve savings goals. In addition, the Bank is able to help the customer rest assured that overdraft fees are less likely to occur by setting up an overdraft protection connection between the savings account and the checking account if the customer so chooses. The customer can link an existing account as long as the account is the appropriate product type (Traditional Savings). The customer does not have to maintain a minimum balance in the savings account to waive the quarterly service fee. - There is no balance requirement and no service charge as long as the customer has the FirstView Checking Account. April 2021 CONSUMER CHECKING PRODUCTS SmartView Checking Account Interest Relationship Rewards interest payments will be paid each cycle based on activity that occurred during the previous cycle. These interest rates and the criteria to earn Relationship Rewards interest payments are subject to change. Guaranteed rates associated with a promotional offer and/or exception pricing will supersede and override any Relationship Rewards interest payments, including Premier Plus “bump” rates. The rate structure is tiered and available in ARX. Linked Money Market The customer can link an existing account as long as the account is the appropriate product type (Money Market). By offering a linked money market account, we are able to provide a positive value proposition for the customer to help him/her achieve savings goals. In addition, the Bank is able to help the customer rest assured that overdraft fees are less likely to occur by setting up an overdraft protection connection between the money market account and the checking account if the customer so chooses. The customer does not have to maintain a minimum balance in the money market account to waive the quarterly service fee. There is no balance requirement and no service charge as long as the customer has the SmartView Checking Account. Note: The customer can opt out of the linked money market account with any of our new products. Service Charge Refund When the customer’s statement drops, the service charge will show as a line item on the statement. If the eligibility requirements are met, the relationship reward refund will post within 2‐3 days and show as an additional line item. Therefore, both will show on the same statement. NOTE: Relationship Rewards payments should typically be visible to a customer on the business day following a fee being charged to an account. However, due to potential technology delays and/or other processing times, the Bank targets a two‐three business day timeline for Relationship Rewards payments from the end of a statement cycle. NOTE: Accounts will not receive a fee during their first cycle to make sure customers have time to setup their account with balances, a direct deposit, and/or bill pay services. If a customer asks for a fee refund before his/her Rewards Relationship cycle has processed, remind the customer that Relationship Rewards are an automated process. To ensure we minimize account disruptions due to multiple refunds and subsequent reversals and are able to provide a consistent experience, we ask that he/she waits for Relationship Rewards payments to post. Sales and Service (SNS) will include prompts reminding employees of the timing of Relationship Rewards payments. One Direct Deposit or Bill Pay Requirement These include: Incoming and outgoing ACH transactions (including employer direct deposits), bill payments made through Banking Online, and banking online transfers to a First Horizon credit card, loan, or HELOC. April 2021 CONSUMER CHECKING PRODUCTS SmartView Checking Account $25k Checking Balance Requirement The balance used to calculate the SmartView “$25k relationship deposits” option for receiving Relationship Rewards will be as follows: o Relationship deposits will be calculated as the average daily ledger balance over the course of the SmartView account’s cycle for all deposit accounts open at any point in the cycle where the customer was a primary or joint owner of the account. o This includes all consumer checking, consumer savings, consumer money market, and consumer time deposit (CD or IRA) and wealth balances. This also includes any grandfathered consumer deposit products. Tenure‐Based Interest Tenure‐based interest is determined by the relationship the customer has with the bank – any account type. If multiple customers are on an account, the customer is rewarded based on the customer with the oldest relationship, longest tenure. TotalView Checking Account Interest Relationship Rewards interest payments will be paid each cycle based on activity that occurred during the previous cycle. These interest rates and the criteria to earn Relationship Rewards interest payments are subject to change. Guaranteed rates associated with a promotional offer and/or exception pricing will supersede and override any Relationship Rewards interest payments, including Premier Plus “bump” rates. The rate structure is tiered and available in ARX. The TotalView Checking account will only pay bonus interest to its linked TotalView Money Market account. TotalView Money Market accounts are only available to customers with TotalView Checking accounts. Linked Money Market The customer can link an existing account as long as the account is the appropriate product type (TotalView Money Market). By offering a linked money market account, we are able to provide a positive value proposition for the customer to help him/her achieve savings goals. In addition, the Bank is able to help the customer rest assured that overdraft fees are less likely to occur by setting up an overdraft protection connection between the money market account and the checking account if the customer so chooses. The customer does not have to maintain a minimum balance in the money market account to waive the quarterly service fee. There is no balance requirement and no service charge as long as the customer has the TotalView Checking Account. Note: The customer can opt out of the linked money market account with any of our new products. Linked Investment Accounts At this time, investment accounts can only be linked to TotalView Checking accounts when the checking account and investment account have the same, single owner. Additionally, only non‐retirement and non‐annuity investment accounts will be eligible. Sweeps between the TotalView Checking account(s) and investment account(s) can be setup to automatically occur at increments of $1,000 and should be set to only occur on balances under $25k in a TotalView Checking account. April 2021 Note: If an investment account is linked, it will show in the customer’s profile. Sweeps between the TotalView Checking account(s) and investment account(s) can be setup to automatically occur at increments of $1,000 and should be set to only occur on balances under $25k in a TotalView Checking account.