Online Banking Frequently Asked Questions

Related Topics

Loans

If a loan is paid ahead, will an immediate or scheduled loan payment made through the Internet be applied to the loan? Yes, the payment will be made and the due date will be advanced even more.

If the loan is paid off, what happens if a scheduled payment is made through the Internet? The payment will not be made to a paid-off loan.

After a loan is paid-off, will the scheduled payment and the loan be automatically removed from online banking? No, the member must remove scheduled payments and the loan.

After the loan is paid-off, will it automatically be removed from InterACT Web? No, the credit union must remove it.

History

How much history is displayed in online banking? As much as Portico retains.

Credit Cards

Are credit cards supported? Credit cards are currently supported in InterACT Web if they are supported by Portico and listed on the member's Account Listing. All 16 digits of the credit card must be listed in InterACT Web after the ‘=’ which follows the member number. This support must be certified. Since the credit card data is coming from a 3rd party, the data will have a 2-3 day lag time in showing current balances.

Account Types

Who determines whether an account is a savings or investment, etc. account type? Online Banking specifies the following:

  • Regular Share = Savings
  • Checking = Checking
  • CD = Investment
  • IRA = Investment IRA and Share IRA
  • Money Market = Savings or Checking
  • Mortgage loan = Mortgage
  • Equity loan = Mortgage
  • Line of credit = Credit line

Joint Accounts

If an online banking user is joint on another account, how do they obtain access to that account in online banking? The member account must be added to the Account Access Permissions grid on the Online Banking Maintenance dialog box for the online banking user.

Cell Phone/Home Phone Support

How does Virtual Branch handle members that only have a cell phone number? The Virtual Branch UserLoad process will support members who use their cell phone as a home phone. If the Home field is blank on the Contact Information tab in Portico, but a number exists in the Cellular field, Portico will send the cell phone number as the home phone number in the UserLoad process. If both the Home and Cellular fields are blank, the UserLoad process will fail. In addition, when Virtual Branch sends information back to Portico to update the demographic information, Virtual Branch will send the number in the Home field, which will actually be the cell phone number Portico sent in the UserLoad process. Therefore, the member can potentially have the same phone number in both the Home and Cellular fields on the Contact Information.

Family Member Transfers

Can I do family member transfers through the Internet on Portico? Yes, the family member's account must be added to the Account Access Permissions grid on the Online Banking Maintenance dialog box for the online banking user. You should verify the financial access permissions on the Permissions dialog box.

Bill Payments

When are ACH bill payments made? True ACH bill payments originating from Virtual Branch are sent to the merchant at the end of the bill pay cycle which starts at 1:00 pm Central time on business days only. Weekends and Federal holidays are excluded from bill pay processing. The member is debited for the bill payment during the next business day’s back-office cycle.

Are there bill pay limits with ACH? Online bill pay transactions originating from Virtual Branch debit the member in real-time during the bill pay cycle. If the member does not have the funds for the online bill payment, then the bill payment will fail. Virtual Branch has sponsor level limits which can be overridden to raise or lower as they please. Individual members may also have lower limits which override the sponsor limits.

Can a member do bill payments from savings if they do not have a checking/share draft account? No. Bill payments can only be made from checking accounts. A member can use up to 36 checking accounts for bill pay.

ACH bill payments originating from Checkfree debit the member a few days in advance before the merchant is paid. Checkfree only processes using ACH and does not offer a real-time payment solution. Bill payments can only be made from checking accounts.