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Uncollected Funds Options field group

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Uncollected Funds Options field group

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Use this field group to view and edit information about uncollected funds (UCF) options on the customer deposit account.

 

Uncollected funds are designated into three categories in the GOLDPoint Systems program, and there are three option types used to determine UCF calculation. To learn more about these categories and options, see the Uncollected Funds Types and Options help page. UCF are set up on customer accounts from the Uncollected Funds and Deposit Delay tab of the Deposits > Account Information > Funds Holds screen as well as this field group.

 

daiaf_ucfoptions

 

The Account Uses Uncollected Funds checkbox field (mnemonic DMDUCF) must be marked in order to use the other checkbox fields in this field group. The other fields in this field group are as follows:

 

Field

Description

Enforce Uncollected Funds Holds

 

Mnemonic: DMDSFH

Use this field to indicate whether uncollected funds (UCF) holds should be enforced on the customer account. See below for more information.

 

•If this field is blank when a check deposit transaction is made on the customer account, the teller will not be required to enter a value in the Local and/or Non-local fields. However, if amounts are entered in those fields, the system will place funds holds on them, according to a length set by your institution on the transaction.

 

•If this field is marked when a check deposit transaction is made on the customer account, the teller will be required to place a funds hold on some part of the transaction amount by entering a value in the Local and/or Non-local fields. If a teller attempts to process a transaction without entering values in these fields, GOLDTeller will inform the teller that a value must be entered before the transaction will be processed. However, a supervisor override can be used in this situation if no hold is desired. Overrides are set up for your institution on the Deposits > Definitions > Transaction Options screen and applied to customer accounts on the Deposits > Definitions > Hold Code Definitions screen.

Extend Uncollected Funds Holds

 

Mnemonic: DMDSEH

Use this field to indicate whether uncollected funds holds should be extended on the customer account. This field is generally used to place funds holds on accounts that have a history of bounced checks, fraudulent activity, etc.

New Account Uncollected Funds Holds

 

Mnemonic: DMDSNH

Use this field to indicate whether the customer account is a new account on which uncollected funds (UCF) holds will be enforced. See below for more information

 

A new account is determined from the Date Opened field on the Deposits > Account Information > Account Information screen. If that date is less than 30 days in the past, and this field is marked, the system determines the record to be a new account. This field will be ignored after the new account period (30 days) is over.

 

If this field is marked when a check is deposited in the account by a transaction and nothing is entered in the Local and/or Non-local teller fields, the system will process the transaction and display a message indicating that the customer account is a new account. The system will only require UCF holds on the new account if the Enforce Uncollected Fund Holds field above is marked. The system will then require the teller to enter an amount in the Local and/or Non-local fields or use a supervisor override (Overrides are set up for your institution on the Deposits > Definitions > Transaction Options screen and applied to customer accounts on the Deposits > Definitions > Hold Code Definitions screen).

 

If this field is left blank when a check is deposited into the account by a transaction, no additional holds will be enforced. However, holds can still be withheld depending on the account. For example, if a retirement account (the Retirement field is marked on the Account Information screen is marked) is eligible for distribution, the Federal or State Withholding amounts may be subtracted depending on what is entered on the Withholding Information tab on the Deposits > Account Information > Interest Fields screen.

Show if Drawn on Uncollected Funds

 

Mnemonic: DMSHUF

Use this field to indicate whether every inclearing check written on the customer account will draw on uncollected funds (UCF). If this field is marked, the afterhours process will send any check drawn on uncollected funds to the GOLD ExceptionManager application with a warning that it is drawn on uncollected funds. See the GOLD ExceptionManager User's Guide in DocsOnWeb for more information about this application.

Pay Interest on Uncollected Funds

 

Mnemonic: DMIUCF

Use this field to indicate whether the system calculates and pays interest on the amount of uncollected funds (UCF) on the customer account. If this field is marked, interest will accrue on the deposited amount, even if some or all of the amount is on hold. If this field is left blank, UCF are not included when calculating the account's earned interest until the funds are no longer on hold.

Unspecified Hold Expires Today

 

Mnemonic: DMDSUT

Use this field to indicate whether an unspecified hold on this account expires today. If an amount is entered in the Unspecified Hold Amount teller field during a transaction, that hold will expire at the end of the present day if this field is left blank. If this field is marked, the hold remains on the funds until you remove the mark in this field.

Average Uncollected Funds

 

Mnemonic: DMAUNC

This field contains the average uncollected funds (UCF) for the customer account during the present cycle.

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