FAQs



General
 
TotalCash Manager
 (TCM)
 
Cash Advantage Checking 
Securities-Backed Line of Credit

 

General

Who do I contact for questions about my client’s account?
Please contact us at 877.648.4896.

Does my client have access to view their transactions?  
Clients may view all their transactions online by visiting Online Banking at cashadvantageclient.com.

When can my client expect to receive checks?
If your client selected the check option when completing the line of credit or deposit application, the checks should arrive within 7-14 business days from account opening.  For any other orders, or reorders, checks should arrive within 7-14 business days from the order date.

How does my client sign up for online statements?
It takes just a minute to sign up for online statements. Your client must log into Online Banking and navigate to “My Accounts > Account Services > Change document delivery method.” Your client will be provided with disclosures and information about electronic statements and will be asked to consent to receiving statements electronically.

Please note that the client will receive one more paper statement after signing up for online statements. Only statements generated after the online statement activation date are available for online viewing.

Statements are produced only if there is an outstanding balance on the line of credit account.

Online statements can be easily saved to a personal computer or by choosing “Download Banking Transactions” on the Accounts page and then downloading the account history to Quicken®, MS Money® or other accounting software. Statements can be printed if a paper copy is needed.   (Adobe Reader is required).

Can I get a copy of my client’s statement sent to me?
Yes, your client may choose to have statements sent to you by completing a Change Third Party Statement Recipient request.  

Where are the forms for changing items related to my client’s account?
Account maintenance forms are found in the Forms section.

How may I view a client’s account online?   
TotalCash Manager, or TCM, is an easy-to-use, secure wesite that lets you see details of client accounts. For more details, see the TCM section below.

Each firm must complete the TCM Access Authorization Agreement to designate a company administrator, the TCM Admin. The TCM Admin has the ability to designate additional users within the firm and then assign accounts for users to view.

How do I sign up for TotalCash Manager (TCM)?  
You can sign up for TCM by filling out the TCM Access Authorization Agreement.

 

TotalCash Manager (TCM)

What is TotalCash Manager (TCM)?
TCM gives the financial professional firm the ability to view the details of their clients' accounts via an easy-to-use, secure website. 

What information is available through TCM?
TCM provides detailed information for each client's account, including transactions, balance history and copies of checks. You can also set up balance alerts to monitor a client's account balance.

Why do I need to set up TCM?
While signing up for TCM is optional, the Bank encourages you to use it as an everyday tool to view client account details. Additionally, TCM access is used to authenticate your identity when you contact the Bank. You and any other firm personnel who have been authorized to receive information from the Bank about client accounts must be set up as TCM users.

How do I obtain access to TCM?
To use TCM, you must complete the TCM Access Authorization Agreement and designate a TCM administrator (TCM Admin). Only one TCM Agreement is required per firm.  After the TCM Agreement has been processed, we send an email to the designated TCM Admin containing login instructions and a TCM Reference Manual attachment.

Financial Professionals are granted access to their client through the account application.  To ensure your clients' accounts are linked to the correct TCM record, each application for a new client account must include your firm’s TCM Company ID and your financial professional ID number or code (if applicable) exactly as it appears on the Agreement.

Once new client accounts are linked to your firm’s TCM Company ID, the TCM Admin may assign accounts to additional TCM users, as appropriate.

Who can access TCM?
One company administrator, the TCM Admin, can be designated for each TCM record. The TCM Admin has the ability to add other TCM users at the firm who are authorized to access client account information. Anyone at the firm who is authorized to contact the Bank on behalf of clients should be added as a TCM user. 

Do I need to complete a new TCM Access Authorization Agreement for every new account?
No, it is not necessary to complete a new TCM Access Authorization Agreement for every new account opened by a client. New client accounts will be linked to you if your firm’s TCM Company ID and your financial professional ID number or code (if applicable) appear on the client’s application for the account. The TCM Admin may assign accounts to additional TCM users, as appropriate.

 

Cash Advantage Checking

How are my client’s AssetMark Trust and Cash Advantage Accounts linked?
The AssetMark Trust custodial account number that was listed on the application is linked to the Cash Advantage Checking Account for purposes of transferring funds between the checking account and the AssetMark Trust custodial account.  For more information, see Cash Advantage Checking.

How does my client change their Target Minimum and Target Maximum?
Target Minimum (required) and Target Maximum (optional) can be changed easily by completing the Target Balance Change Form.  Your client can also change the Target Minimum and Target Maximum using www.cashadvantageclient.com, by logging in and going to the Funds Transfer tab and choosing “Manage Monthly Target Balances” from the links on the left.

How can my client sign up for bill pay?
Your clients can sign up for bill pay quickly and easily. Clients can log into their account at www.cashadvantageclient.com, click the Bill Payment tab, and complete the registration form. In just a few seconds, your clients will be able to begin setting up payees and payments in the same session. 

Where are my client’s debit cards?
Your client’s debit cards are ordered once the account is opened.  Debit cards and PIN numbers arrive separately, usually within 7-14 business days after account opening.  If you have questions about the status of a client’s check or card order, please call 877.648.4896.

How does my client make a deposit?
There are numerous ways to make a deposit, including wire transfer, automatic or manual transfers, and check deposit.  Please see Deposit Options  for complete information.

Why is my client unable to link a Cash Advantage - Checking Account to an IRA?
Any distribution or withdrawal from an IRA will incur an additional 10% early withdrawal tax penalty.  Due to the unique link that exists between a Cash Advantage - Checking Account and a AssetMark Trust custodial account, any transaction involving a Cash Advantage - Checking Account (monthly transfers, bill pay, overdrafts, etc.) has the potential to draw from the AssetMark Trust custodial account, thereby creating an undesirable taxable event in the IRA.

How are interest rates on deposits reviewed and determined?
The Bancorp Bank routinely conducts competitive assessments relative to the Cash Advantage Program and other interest bearing programs and sets rates of return based on that market data.

How does my client use the debit card when there are no branches?
Your client may make withdrawals or deposits and check their account balances from any ATM participating in the program at thousands of ATM machines in the United States and worldwide.

What fees are associated with the Cash Advantage – Checking Accounts?
There are no monthly service fees to maintain these accounts.  Typical banking fees apply for items returned for insufficient funds and wire transfer transactions.  Please review the Schedule of Fees.

How would my client initiate one-time and recurring payments to third parties?
Your client may access our easy-to-use on-line bill pay features available when they login to cashadvantageclient.com using their secure credentials. 

To which accounts may the Cash Advantage – Checking Account be linked?
Cash Advantage - Checking Accounts may be linked to any non-qualified account with the same registration as the Cash Advantage - Checking Account.

  • Only one AssetMark Trust Account and one checking account may be linked.
  • A few exceptions apply

How do I open a Cash Advantage – Checking Account and where can I find the forms?
You may open a new Cash Advantage – Checking Account by using eWealthManager.com to pull up your client’s account in the Online Maintenance Tool.  Select the Add Checking Account feature and follow the instructions to generate the required forms. 

Can I link a Cash Advantage – Checking Account to a AssetMark Trust custodial account at the time I am opening the AssetMark Trust custodial account?
Yes, the Cash Advantage – Checking Account can be opened at the same time as an AssetMark Trust custodial account. Automatic monthly transfers and target monthly sweeps between the accounts will begin after the checking account has been funded.

After the application is submitted, what expectations should I set with my client regarding the new Cash Advantage - Checking Account?
If the forms and required information are received in good order, the client’s checking account will be opened within 3-5 business days typically.  Within 7-14 days, The Bancorp Bank will send your client a Welcome package for the Cash Advantage – Checking Account. Checks, debit cards, and a Personal Identification Number (PIN) mailer will also be mailed to the client. 

Securities-Backed Line of Credit (SBLOC)

How does my client access the SBLOC?
Once the line of credit is in place, your client may access the available credit through the following disbursement methods: by requesting a wire transfer, by using Online Banking or by using line of credit checks.  Your client may select the check option when completing the line of credit application or at any time after the account is opened.  You may order line of credit checks on behalf of your client by calling us at 877.648.4896 or your client may call our customer service department at 877.648.4880.

How does my client make payments or pay off the line of credit?
Your client may request to have their loan account paid off in full and closed.  For more information about making payments or to get a payoff quote, click here or call 877.648.4896 .

Can my client continue to use the securities account check-writing privileges? 
Check writing privileges associated with the securities account held at your firm will be terminated when the account is pledged as collateral and the new SBLOC becomes available. Remember, the SBLOC offers check-writing access.

Is trading permitted within the securities account that is being used as collateral for my client’s SBLOC? 
Yes, trading within the securities account being used as collateral for the client’s SBLOC is permitted. However, major changes in the asset allocation of the securities account might reduce the amount available to the client to borrow.

What if a security in the securities account is no longer eligible to serve as collateral, or if while trading in the securities account, an ineligible security is purchased?
Ineligible securities held in the securities account held at your firm will be automatically excluded from collateral valuation, and the SBLOC limit will be adjusted accordingly and in certain circumstances, a request for additional assets could be triggered.

What happens if my client’s securities go down in value?
Depending on the relationship between the value of your client’s securities account, the SBLOC credit limit and the amount, if any, that has been borrowed, devaluation of collateral may:

-      have no consequence;
-      limit access to funds; and/or
-      require a deposit of additional assets or an immediate payment

If the value of the collateral falls significantly, the Bank may contact your client to request that additional funds be placed into the collateral account. If your client’s credit limit is reduced due to a change in collateral value, it is subject to increase as your client’s pledged securities gain in value.

What would cause the credit limit on my client’s SBLOC to be reduced?
The credit limit is automatically reduced if the borrowing power or “Advance Rate” value of the pledged securities no longer supports the approved credit limit. It is important that your client verify both the current credit limit and available credit before requesting advances or writing checks, as no specific notice is provided if the credit limit changes.