Description: This article will show you how to update the Fees and/or the Bank Account Information correctly and how to ensure you are resubmitting the bank application.
Process:
To update the Fees and/or Bank Account Information, please use the following instructions:
Log in to your MO (Multi Office Admin) using your Admin credentials.
Once in, Click Bank on the left sidebar.
Locate the Location Account Name from the list and click the eyeball icon on the right side of the screen.
Now click on the Edit Enrollment Information button.
If this button is not there, please stop the process and use the following article: OLT: Bank App Unlock
Here you’ll see the first page which is the Office State Information. Only click Save and Continue.
Please DO NOT skip the next step, otherwise your modifications won’t go through.
Now you’ll be directed to the Product Configuration page. Here you must check the box beside the message saying, “Check here if you want to update (TPG, RA, Republic) Enrollment.”
Now, please modify any piece of information you need.
TIPS:
The questions asked will depend on the bank.
The Bank Name is the name of the bank not the name on the account.
The Name on the Bank Account should be exactly as it appears on the Bank Account.
The Transmitter Fee has a base of $25 which goes to the Software. It is $15 for the Technology Fee and $10 for the Transmitter fee. You can add more but not less than that amount.
The Transmitter Fee is the fee you receive in late June/early July and in December.
The Service Bureau Fee is the fee you get in real-time once the Bank Product funds.
Each bank has a limit that cannot be exceeded in each fee except for the Transmitter Fee.
TPG: In the Document Preparation Fee, we recommend leaving it in 0, and better add the amount in the other sections available. This is because TPG includes a Processing Fee for the Document Preparation Fee. You’ll find the fee range there.
After doing this, click Save and Continue.
After these steps, please keep going further by clicking:
Save and Continue on every single page shown.
Register Bank on every single page shown.
I Agree on every single page shown.
Once you get to the final page, please click Transmit Enrollment.
Now click Bank on the left sidebar.
Locate the Location Account Name from the list and you’ll see the status changed to QUEUED.
Now, you’ll only need to wait until the status changes to ACCEPTED.
