Q:
Is direct deposit available?
A: You can have payroll, Social Security, or other
government benefits deposited directly into your Valet
account. You can do this by requesting a direct deposit
form from your Benefits Administrator and attaching
a copy of a voided Valet check. Recipients of Social
Security Benefits can obtain a direct deposit form from
the Social Security website at http://www.ssa.gov/deposit/index.html
or by calling Social Security at 1-800-772-1213.
About Premium
Checking...
Q:
If I upgrade to a Valet account from an account which
already had check writing privileges, do I receive new
checks?
A: Yes. You will receive new Valet checks and
a new checking account number. You must destroy your
old checks, as they will no longer be accepted.
Q:
How long will it take for my checks to arrive?
A: Checks are typically mailed within 5-10 business
days from account approval via third class mail.
Q:
If I need my checks to arrive earlier than that, are
there other options?
A: For an additional fee charged to your Valet account,
you may choose to have your checks sent to you via 1st
class mail for $4.25 plus tax, overnight for $17.95
plus tax, or next day for $15.49 plus tax. Additional
postage may apply for international accounts. These
rates are subject to change by the USPS.
Q:
How do I reorder checks?
A: Reorder forms are included in your check package.
Reorder fees depend on the style of checks ordered:
wallet, end-stub desk book, and business style.
Q:
How is checking activity reported on my Valet statement?
A: Check writing activity is reported in the Cash
Management section of your Valet account statement.
The payee, check number, date written, expense code
category (if used), and amount of check are displayed.
Q:
Are checks returned to me?
A: No. Valet checks are not returned to you because
check writing detail is reported on your statement.
You may request a copy of a check for a fee of $2.50.
Q:
Will you accept checks from third party check printers?
A: Yes. Checks ordered from other printers (such
as those offered through magazine and newspaper inserts,
coupon mailers, etc.) as well as Quicken/MS Money checks
are accepted.
Q:
Are third party checks accepted for deposit to my Valet
account?
A: Yes, third party checks may be deposited into
your Valet account.
About the
Visa® Gold Debit Card...
Q:
When will I receive my Visa® Gold debit card?
A: Your Visa® Gold debit card will be mailed
two days after your account has been coded for check
writing. For example, your checking account is established
on Tuesday; on Wednesday evening a request is made for
your debit card. On Thursday your debit card is mailed
out via first class mail.
Q:
When will I receive my PIN that allows me to use my
debit card for ATM cash withdrawals?
A: For security purposes, your PIN is mailed separately
from your debit card, five (5) days after your card
is mailed. You will then be able to access cash worldwide
from more than 627,000 ATMs displaying the VISA, PLUS,
MAC and NYCE logos.
Q:
How do I withdraw funds at an ATM with my Visa®
Gold debit card?
A: The ATM will present you with the following options
for cash withdrawals: savings, checking, or credit card.
Select credit card.
Q:
Can I request cash back when paying for purchases with
my debit card?
A: Yes, if the merchant offers this service (such
as a supermarket/grocery store, etc.). You must specify
that it is a debit transaction and add the cash back
amount to the merchandise purchase amount. For example,
if the total purchase was $78.99, and you wanted $20
of additional cash, you would enter into the keypad,
a total of $98.99 and your PIN, in order to complete
the transaction.
Q:
What is the key difference between a Visa® Gold
debit card and a Visa® credit card?
A: Debit card transactions are charged to your Valet
account daily and transactions appear on your Valet
statement. You will not receive a separate statement
from Visa®. (Merchants cannot tell the difference
between a debit card and credit card.)
Q:
How are debit card transactions displayed on my Valet
statement?
A: Debit card transactions appear in the Cash Management
section of your Valet statement. Merchandise purchases
are listed in order by transaction date and include
merchant description, transaction number, and amount.
ATM transactions appear separately and include the total
amount withdrawn plus ATM fee, and location.
Q:
Is there a maximum number of times I can use my Visa®
Gold debit card in one day?
A: No, as long as you do not exceed the $15,000
maximum daily limit. This limit includes ATM withdrawals,
card purchases, and cash (teller) advances. Note:
You must contact your Investment Representative to request
approval to exceed the $15,000 limit.
Q:
What is my daily limit for ATM withdrawals?
A: Your limit for ATM withdrawals is $1,000 or the
daily limit the bank has imposed, whichever is lower.
Q:
How can I obtain more cash than the $1,000?
A: You have the option to go into any bank and present
your Visa® Gold debit card to get a cash advance
up to $15,000 or your available cash, whichever is lower.
Q:
Can my Visa® debit card be used to make ATM deposits?
A: No. Your debit card may be used for cash withdrawals
only.
Q:
What other benefits are available to me through Visa®
Gold?
A: A complete description of Gold card benefits
and services will be mailed to you with your Visa®
Gold debit card. These services include: Warranty Protection,
Auto Rental Insurance and Discounts, and Travel and
Emergency Assistance.
About the Valet Cost Basis
Statement...
Q:
How does my Valet statement differ from my regular brokerage
statement?
A: Valet statement enhancements include: the cost
basis for securities, realized and unrealized gain/loss
reporting, and a separate cash management section for
debit card and checking transactions.
Q:
What is included in my Valet Year-End Summary Statement?
A: Your year-end summary statement includes 1099
income and transaction detail, gain/loss information,
and a recap of checking and debit card transactions
by category.
About
Web Bill Payment...
Q:
How does web bill payment work?
A: With MyBillCenter you can receive, review, pay,
and organize all your bills online. Each bill designated
arrives securely online in your password-protected MyBillCenter
in-box and you can see every page of every bill. You
decide when to pay, how much to pay and from which account
(using any bank or brokerage account with check writing
privileges). You can view a demo at http://mybillcenter.paytrust.com.
Q:
How long are my bills stored and what security is involved?
A: Each bill is stored securely online for a full
year and offline for up to eight years. At the end of
each year, you can purchase a CD-ROM with all your bill
images from the past year. MyBillCenter uses the same
high levels of security as other leading online banking
and financial service sites, including SSL encryption,
firewall technology and password-protected account access.
Q:
Will I be able to tell when a bill has been paid, or
when one is due?
A: You will receive an email letting you know when
bills arrive in your MyBillCenter in-box. Additionally,
you can be reminded when bills are coming due or if
a bill you normally receive hasn't arrived yet. You
can check to see when a bill was paid and run complete
reports by payee, category, date, or amount.
Q:
Whom do I call if I lose my subscriber ID?
A: You must call 1-866-742-8245 (toll-free).
About the TravelAccount...
Q:
How do I earn points?
A: One point is earned for every dollar spent with
your debit card, exclusive of ATM transactions/cash
advances.
Q:
What are the points redeemable for?
A: You can redeem points for hotel accommodations,
car rental or airline travel to domestic and international
destinations of your choice.
Q:
Can I redeem my points if my account is closed?
A: No. Once your account is closed, all points are
forfeited.
Q:
How am I notified of points accumulated?
A: Quarterly Travel Rewards Statements are mailed
to customers who have at least 5,000 travel points.
Statements show all points that will expire within the
next 90 days. Unused points expire after five years.
Q:
How do I redeem or inquire about points or make travel
reservations?
A: You should call 1-800-581-7786. Customer service
is available during the hours of 9:00 a.m. to 8:00 p.m.,
ET, seven (7) days a week
About Valet
Fees...
Q:
What is the annual fee for my Valet account?
A: The annual fee for a premium level Valet Account
that includes the Visa® debit card is $80. A standard
Valet account, which does not include a debit card,
is $50. The annual fee is deferred until your one-year
anniversary.
Q:
If I close my account before my one-year anniversary,
is the fee still charged?
A: Yes, you will be charged the total fee ($80 or
$50) when you close your account.
Q:
What is the cost of the web bill payment/presentment?
A: MyBillCenter is available for just $7.50 per
month for complete bill management, and just $5.00 a
month for pay only service. The monthly fee includes
up to 25 transactions. If you need to process more than
25 transactions, you are billed at just $0.50 each for
complete bill management and $0.40 each for pay only
service. The fee is charged directly to your designated
default account. It is not included in your Valet annual
fee.
Q:
What is the ATM fee?
A: PNC charges a $1.00 ATM fee per transaction.
The ATM owner may impose other fees.
Q:
Are there any other fees?
A: The following charges also apply: checks returned
due to insufficient funds "NSF" ($20), stop
payments ($15), check copies ($2.50), Visa® card
drafts ($4), standard wallet check reorders ($10).
About Account Protection...
Q:
What account protection does Ridge Clearing provide?
A: Ridge Clearing provides account protection up
to an account's total net equity. Specifically, the
Securities Investor Protection Corporation (SIPC) provides
up to $500,000 to protect the assets in each account
you hold in separate capacity (for instance, joint tenant,
sole owner, etc.). $100,000 of this amount covers between-investment
cash balances. In addition, the Travelers Casualty and
Surety Company provides secondary "excess"
SIPC coverage of unlimited net equity with no cash limit.
Q:
What kinds of assets are covered?
A: Your stocks, bonds, mutual funds, notes, debentures,
money market funds and certificates of deposit are protected
in the event of losses resulting from your brokerage
firm's insolvency or liquidation.
However, it is important to note that the account protection
offered by SIPC and the Travelers Casualty and Surety
Company does not protect against losses due to market
fluctuations.
Q:
What is the Securities Investor Protection Corporation
(SIPC)?
A: SIPC is a non-profit member organization of broker-dealers
created in 1970 by an act of Congress. It protects customers
of those broker-dealer members that for some reason
cannot meet financial obligations to their customers.
Q:
Where does SIPC get the funds to protect me?
A: SIPC can draw on approximately $790 million of
member contributions and interest earned from U.S. government
securities. It also has a $1 billion line of credit
with a bank consortium. And, if necessary, SIPC can
also borrow up to $1 billion from the U.S. Treasury.
Q:
Is my cash account and my individual retirement account
(IRA) protected separately?
A: Yes. Ridge Clearing has arranged for unlimited
account net equity protection for each account in which
you act in a different capacity.
Q:
How would SIPC satisfy my claim?
A: SIPC recovers all of the cash and securities
it can from your broker-dealer -- then uses its own
funds to satisfy any additional claims you may have.
Q:
What if I have more than $500,000 worth of securities
and cash at risk?
A: If your remaining claim exceeds the $500,000
provided by SIPC (after the cash and securities recovered
from your broker-dealer are returned to you), Ridge Clearing
will use the additional protection offered through the
Travelers Casualty and Surety Company to cover your
securities -- up to the account's total net equity.
Q:
Is the coverage offered by my broker-dealer (through
Ridge Clearing) affected by the S&L bailout?
A: Not at all. The Federal Deposit Insurance Corporation
(FDIC) and the former Federal Savings and Loan Insurance
Company (FSLIC) are responsible for compensating customers
of liquidated banks and savings & loans. SIPC protection
offered by broker-dealers is in no way connected with
the S&L bailout or the FDIC.
