Checking Accounts Help

In order to facilitate law enforcement efforts to combat various illegal activities, including drug trafficking, organized crime and terrorism, certain laws have been passed and government initiatives established to inhibit or identify money laundering. Laws and directives requiring action by banks, credit unions and other financial institutions include the Bank Secrecy Act, The USA Patriot Act and directives issued by agencies of the U.S. Department of Treasury (specifically, the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC)). The Rule requires the disclosure of key individuals who own or control a legal entity (Beneficial Owners).
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Beneficial Owners are defined in the Rule as individuals who meet the following “Ownership” or “Control” criteria:
Ownership: Each individual who owns, directly or indirectly, 25% or more of the equity interests of the legal entity.
 
Control: An individual with significant responsibility for managing the legal entity, such as an executive officer or senior manager (e.g. CEO, CFO, COO, managing member, General Partner, President, Vice-President or Treasurer) or any other individual who regularly performs similar functions. While many legal entities will have more than one individual with significant management responsibility, only one of those individuals is required to be disclosed under the Rule.
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An authorized representative of the legal entity will be required to provide and certify the accuracy of the following information for each identified beneficial owner:
  • Full legal name;
  • Date of Birth;
  • Residential or Business Street Address (cannot be a PO Box);
  • Social Security Number or Passport Number and Country;
  • Ownership Percentage (not required for control person); and
  • Copy of driver's license, passport or other valid government-issued photo identification.
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The above information regarding the beneficial owners plus additional information regarding the legal entity and the person opening the applicable account (or otherwise completing the form) will be collected in a Certification of Beneficial Owner(s) Form. The form will need to be executed by an authorized representative of the legal entity and can be submitted via hard copy in a banking center or via a secured electronic form.
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Yes, most likely, if your business is a legal entity (i.e., corporation, limited liability company, partnership, etc.). Your banking representative will advise you if you are exempt. Notably, the Rule does not apply to individuals and sole proprietorships.
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In our effort to balance client convenience with employee family life, all 1st Source's offices (including Banking Centers) will observe the holiday schedule below. For standard business hours, please reference our locations section:

2020
Christmas Eve**
Early Close		 Thursday, Dec. 24
Close at noon°
Christmas Day*
Closed		 Friday, Dec. 25
New Year's Eve
Open
Thursday, Dec. 31
1st Source Bank's Holiday Hours
  2021 2022
New Year's Day*
Closed 		Friday, Jan. 1    Saturday, Jan. 1
Martin Luther King, Jr. Day*
Open 		Monday, Jan. 18 Monday, Jan. 17
President's Day*
Open 		Monday, Feb. 15 Monday, Feb. 21
Good Friday**
Early Close 		Friday, Apr. 2
Close at noon°
Friday, Apr. 15
Close at noon° 
Easter
Closed 		Sunday, Apr. 4 Sunday, Apr. 17
Memorial Day*
Closed 		Monday, May 31 Monday, May 30
Independence Day*
Closed 		Sunday, Jul. 4 Monday, Jul. 4
Labor Day*
Closed 		Monday, Sep. 6 Monday, Sep. 5
Columbus Day*
Open 		Monday, Oct. 11 Monday, Oct. 10
Veteran's Day*
Open 		Thursday, Nov. 11
 Friday, Nov. 11
Thanksgiving Day*
Closed
Open on Friday 		Thursday, Nov. 25 Thursday, Nov. 24
Christmas Eve**
Early Close 		Friday, Dec. 24
Close at noon°		 Saturday, Dec.24
Close at noon°
Christmas Day*
Closed 		Saturday, Dec. 25 Sunday, Dec. 25
New Year's Eve
Open
Friday, Dec. 31
 Saturday, Dec. 31
* United States Federal Reserve Bank Holidays - 1st Source Bank only processes items when The Federal Reserve Bank is open.  The Federal Reserve Bank will not accept Wires or ACH items (including electronic Bill Pay/Payroll Bill Pay) on a Saturday, Sunday, or Holiday date. Anyone originating transactions with an effective date of Saturday, Sunday, or a Holiday will be delayed until the following business day.
** Early Cut-Off - Items received after early cut-off will be processed the following business day.
° All times are local (either ET or CT).

 

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When performing an edit check on My Location and My Regions, CardValet compares the geographic location of the mobile device as well as the Merchant’s information that is sent within the transaction. It is possible for the merchant’s information to be an address other than the physical location of the merchant i.e. Corporate or Regional address. In these instances, the transaction will bypass the CardValet edit checks since the information is not within the set boundaries.
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Control settings take effect as soon as the Updating information message in the app stops.
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Previously authorized recurrent payments will continue to process and will bypass the CardValet® edit checks.
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The region shows the approximate area where the card can be used; the area must be greater than 5 square miles. CardValet® can typically map the transaction down to a ZIP code or city. If the city or ZIP code of the merchant overlaps with the selected region in the map, then the transaction can still go through. There are instances where a merchant location cannot be mapped down to a ZIP code or city, in which case CardValet® will default to a state-level match.
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No. The location controls are applicable to in-store transactions only.
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CardValet® is intended to provide enhanced security for your Resource Plus® debit card. None of our security features, including transaction monitoring, will change. Therefore, we ask that you continue to contact 1st Source when you intend to travel to ensure the best experience with your card.
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If you decided that CardValet® does not meet your needs, no problem. However, you must delete your card from CardValet® BEFORE you uninstall the app. That's because your custom security settings are saved on our servers and will continue whether your app is installed or not. To avoid potential issues in the future, it will be necessary for our system to know your desire to stop using the app. 
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