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® Debit Card...
Q:
When will I receive my Visa® debit card?
A: Your Visa® 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® 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®
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® 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® 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®?
A: A complete description of Gold card benefits
and services will be mailed to you with your Visa® 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.
