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.htm 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 $21.99 plus tax, or next day for $19.45 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 MyBillCenter at 1-866-742-8245 (toll-free).
About Visa Extras Rewards...
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, travel, gift certificates and merchandise.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 statements are mailed to customers who have at least 5,000 points. Unused points will expire after three years.
Q: How do I redeem or inquire about points or make travel reservations?
A: You should call 1-800-960-8472. Or , go to visa.com/extras to browse the online catalog. Once online, you can view your account activity, check your point balance, and redeem points.
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 of your securities. 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, Customer Asset Protection Company (CAPCO), a licensed Vermont insurer, provides secondary "excess" SIPC coverage.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 Customer Asset Protection Company (CAPCO), a licensed Vermont Insurer 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 Excess SIPC through Customer Asset Protection Company, (CAPCO), a licensed New York insurer.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 provides additional protection ("Excess" SIPC) through Customer Asset Protection Company (CAPCO), a licensed New York insurer.
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.
