We are reviewing options to implement Next Day Memo Post and Good Funds functionality. I’m trying to get some clarity on the JHA documentation for Good Funds where it states the note below. I was initially under the impression that any
transaction that was approved with a positive balance at time of the transaction would not post a fee
for this specific transaction when it posts if the account balance is OD at the time of this transactions posting. However, this notation has me doubting that I am accurately understanding how this functionality works. Can anyone currently using this
please help clarify?
In addition, I’d like to know the following related to Goof Funds:
- If you would share any changes you made to your account documentation or disclosures to account for this change or customer notifications,
- Anything you learned after implementing that you wish you had known before,
- Clarifying if items paid under good funds show on the overdraft notices, but just without a fee,
- Clarifying if items paid under good funds update the NSF or OD counters on the accounts.
I’m also curious about the following related to Next Day Memo Post:
- If you would share any changes you made to your account documentation or disclosures to account for this change or customer notifications,
- Anything you learned after implementing that you wish you had known before,
- Clarifying if items paid under good funds show on the overdraft notices, but just without a fee,
- Clarifying if items paid under good funds update the NSF or OD counters on the accounts.
Lisa Otery
SVP Deposit Operations
P 215-538-5600 x5680
F 215-538-5794