Foreign ATM Rebates

Be the first to review this product

This application is an updating application that will rebate foreign ATM service charges based on a number of configurable options.  One rebate transaction will be credited to the account for all transactions that occurred during the period.
 
The rebate amount is calculated by dividing each transaction by a specific amount (this amount is configurable). The remainder represents the fee amount.  For example, if the amount is set to $5.00, and the transaction amount is $21.50, the application will calculate the ATM service charge amount as $1.50 ($21.50 / 5 = 4 with a remainder of 1.50).
 
Alternatively, if the ATM switch is programmed to pass the transaction amount and the surcharge amount separately, the actual surcharge amount can be rebated without the above calculation.
 
Account selection may be restricted based on the following product level settings:

• Account Balance
• Aggregate Balance
• Loan Balance
• Product
• Account Status
• Account User field

 
Rebate amount may be restricted based on the following product level settings:

• Maximum number of transactions
• Amount to rebate per transaction
• Total rebate amount

This application can be run based on statement cycle, or for a specific date range.
 
 
Key Benefits:
 
If your institution wishes to provide rebates on foreign ATM service charges, this application provides a flexible / configurable method of determining rebate eligibility and amounts, and posting the service charge rebate once calculated.