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)