Meridian Feature: Memo-Posting (Marking Up)
The Online Memo-Posting feature allows you to memo-post (or mark up) known transactions against a customer's account to determine the customer's new available balance. Memo-posting an amount will not actually cause that amount to be added or deducted from the customer's account in tonight's update. Instead, it will only be temporarily added to or subtracted from the customer's available balance until the next update, at which time the memo post is cleared for the next day. You can view a customer's memo-postings at any time to reveal the date, time, debit or credit amount, and source of the memo post. The main benefit of this feature is that it can help prevent an account from being overdrawn when other transactions are already known to be pending.
The system can automatically memo post items such as ACH, ATM, Manual Posting, Auto Transfers, and Proof. The system also provides for a way to carry certain memo-posting over to the next day when your bank ends its current business day and begins processing work for the next business day. Simply select "End Memo" at the terminal where the memo-posting is being continued (e.g. Drive up teller's terminal), or select "Stop Memo" at the main console to cause subsequent markups at all terminals to be carried over.
Features:
- Easy to perform
- Allows both deposits and withdrawals to be memo-posted
- Displays a net running total of all memo-posts since the last update
- Each customer's Memo Postings can be viewed
- Error corrections are easy to make
- Cashed checks are tracked by the initials of the person cashing the check
- Helpful in preventing an account from becoming overdrawn
- Allows the bank employees to see what ACH amounts have been posted
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