External Transfer Business Rules

Version updated 6/2/2023

CX BUSINESS RULES:

CX must follow the HubSpot SOP for the creation and entire process of a HubSpot ticket

CX must follow the authentication and update the last contact date process in the Contact Handling SOP for all CX channels

When contacted via phone or email, CX provides the client with instructions to enable the external transfer through a secure message CX must follow Email Procedurebelow when an external transfer request comes through email

Reply to the client’s email with Instructions Sent through OLB email template

Send a secure message using the General Question pipeline and provide instructions

If the client does not have OLB proceed with an email message

Inbound Calls & Glia Engagements requesting the external transfer feature enabled require written confirmation

As of 9/28/2022 the external transfer feature will automatically be enabled once the customer relationship reaches 31 days and is placed on the watchlist.

Accounts opened prior to 9/28/2022 will still need to have their external transfers manually enabled

The external transfer feature can only be enabled if the customer’s account and relationship have been established for more than 30-days

The external feature won’t be enabled for the following reason:

Funding deposit returned, charge-back, negative balance, or restricted account

Restricted accounts must be cleared to enable external transfers

Account notes provide the details needed by customers to resolve restrictions

The cut-off time to enable the external transfer feature is 4:00 PM EST Monday- Friday

For User Type, select Retail w/ Bill Pay

The limits are $2,000 daily and $10,000 monthly

Three Stages when the external transfer account is added through Quontic Online Banking

Pending Verification Stage

The customer must verify the micro-deposit amounts from the external account through Quontic’s online banking (see enabled email template for instructions)

Confirmed Stage

The external transfer account has been successfully linked

Locked Stage

The customer has inserted the micro-deposit amounts incorrectly multiple times

Fraud may restrict the account – documentation may need to be provided for the external account (see Horizon XE contact and alert notes for instructions)

The customer will need to delete the external account and re-add it again (start the whole process over)

Transfer initiated through Quontic timeframes:

Outbound transfers (from a Quontic Bank account to another financial institution), funds are typically available in the external account one business day after the transfer is processed

Inbound transfers (from other financial institution accounts to the Quontic Bank account), funds are typically available in the Quontic Bank account within three business days after the transfer is processed

Transfers initiated through an external financial institution require the customer to reach out to that financial institution for timeframes

Once the external transfer is enabled, the HubSpot ticket must be assigned to the DBO External Transfer Enable Request Pipeline/ CX Enabled Transfer – Review/Add Watchlist ticket status

Place a Note for DBO to add the client to the watchlist

CX must NOT edit or delete an internal/ external automatic transfer established by the customer

CX must assist and provide instructions on how to edit or delete the automatic transfer

CX must NOT delete an external transfer account

CX must assist and provide instructions on how to delete the external account

Quontic Money Market account is considered a CHECKING account. If the customer is stating, they are having trouble adding their Quontic account, provide the customer with their account details. See the email template below

Follow the External Transfer Rules (see Appendix)

If the customer has added a business account as an external transfer account – the customer will not be able to initiate a transfer from the said business account to their Quontic Account through the Online Banking Portal

See External Transfer Account Information Procedure below

The HubSpot Email templates are also talking points for the phone channel (see HubSpot Email Templates)