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Q. What is a manual, self-serve or system transaction? What items fall under each category for the chequing account packages?
A. Each of Synergy's chequing account packages are catered to your needs for your everyday banking. Thus, we have developed a variety of chequing account packages to meet the needs of specific groups. Each package varies in the number of manual, self-serve and system transactions offered - keeping these specific groups in mind.
So, what is a manual transaction?
A manual transaction is any transaction performed by a staff member, which could include the Member Service Representatives (in-branch) and the Member Contact Centre (call centre), with the exception of deposits since these are free, no matter where or who they are performed by.
What is a self-serve transaction?
These types of transactions are performed by the member and involve 2 different types of transactions:
1) Cheques (not included within the Electronic Chequing Package)
2) Electronic Transactions:
- Direct Payment Purchase (point of sale machine)
- Global Payment MasterCard Debit Card Purchase
- MemberDirect (online banking services) Bill Payment
- TeleService (automated telephone banking services) Bill Payment
- Pre-Authorized Debit (to another institution)
- ATM Bill Payment
- ATM Loan Payment
- ATM Loan Transfer
- ATM Withdrawal
What is a system transaction?
These types of transactions are free. They consist of:
- Pre-authorized transfer (investment, loan, savings, or chequing)
- MemberDirect (online banking) pre-authorized transfer
- MemberDirect (online banking) transfer - includes loan payments
- TeleService (automated telephone banking) Transfer - includes loan payments
Therefore, you should choose a chequing account package that matches your needs based on the number and types of transactions offered. Try our online Chequing Account Selector (available under the 'Tools' tab) to assist you if you like. We can also help you determine which option is best for you. Just give us a call, click or visit.
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