Financial Insights can assist you in sorting out your options for Alternatives to Heritage Check Writing
Clients are phoning Financial Insights for clarification on the Raymond James letter they received regarding Alternatives to Heritage Check Writing. We are here to help you sort out your options.
We have received many phone calls from clients who recently received a letter from Raymond James regarding Alternatives to Heritage Check Writing. We recognize the matter has caused questions and concerns. The intent of this article is to aid you in sorting out your options.
By now, you should have received notification from Raymond James (RJ) regarding your option to switch from the Heritage Money Market Account to a Capital Access Account. To aid you in making an informed decision, we have listed your options below:
Option 1: You may keep Heritage as your money market account. If you elect this option you will need to keep the following in mind:
Effective July 1, 2009 there will be a $15 fee imposed by RJ on any Heritage issued check written against the account.
As an alternative to checking writing, you may establish ACH on your account and your requested funds will be transferred electronically to your local bank account. You may establish periodic transfers (recurring) or on demand transfers. Please note you will need to contact our office to achieve all on demand transfers.
If you are uncertain if you have ACH established on your account, please call our office at 253.627.6010 and we will advise you.
If you wish to establish ACH on your account, you will need to complete the appropriate form and submit it to Raymond James. Our office is available to assist you with the process.
If you already have ACH established on your account you need to do nothing.
Option 2: You may elect to open a Capital Access Account. If you elect this option you need to note the following:
You will receive unlimited check writing
You may elect to receive a Capital Access Visa Platinum debit card. If you do not wish to receive a card you will need to indicate it on your account application.
There is a fee for the account depending on the cumulative value of your eligible RJ held assets. The standard annual fee is $100 and is charged on the anniversary of the account.
You must complete, sign and return the Capital Access Account Upgrade Application you received from RJ if you wish to open a Capital Access account.
We recognize changes can cause questions and concern. Please do not hesitate to call our office if we may answer questions or assist you in any way regarding this issue.
|
