ABOUT CAA & SBLOC

How are my client’s CAA and SPTC account linked?
Why is my client unable to link an IRA to a CAA?
Where can I find account maintenance forms?
Who do I contact for questions about my client’s CAA account?

NEW ACCOUNTS
What is required to establish a CAA for my client?
How should we manage client expectations regarding account set up?
How does my client make a deposit to the CAA?
How do I change my client’s Target Maximum and Target Minimum?

ACCOUNT FEATURES
How can my clients sign up for Bill Pay?
How do overdrafts work?
How does the target balance/sweep functionality work?
What is the current interest rate of the CAA?

CLIENT INFORMATION
What transactions can I do on behalf of my client?
How can I monitor my client’s ongoing account activity?
Where can my clients view their activity?
How do my clients pay off their SBLOC?


ABOUT CAA & SBLOC

How are my client’s CAA and SPTC account linked?
The SPTC account number listed on the CAA application is linked to the checking account for purposes of transferring funds between the checking account and certain funds in the SPTC account. For more information, see How it Works.

Why is my client unable to link an IRA to a CAA?
A distribution or withdrawal from an IRA will incur an additional 10% early withdrawal tax penalty if the client has not reached distribution age. Due to the unique link that exists between the CAA and SEI accounts, any transaction involving a CAA (monthly sweep, bill pay, overdrafts, etc.) has the potential to draw from the investment account, thereby creating an unwanted taxable event in the IRA.

Where can I find account maintenance forms?
The CAA forms can be found on various sites. The full library of CAA forms can be found here, in SEI Advisor Desktop and on the Advisor Portal.

Who do I contact for questions about my client’s CAA account?The Bancorp Bank, N.A. and SEI have service teams designated to handle various CAA questions:

1. Cash Access Team for Financial Professionals: 866.792.5410 – For information on CAA benefits, integrated account features, and client accounts.
2. Cash Access Team for End Clients: 866.792.5412 – For account information, online access, bill pay, or any other CAA questions.
3. SBLOC Team Line: 866.221.5307 – For lending and SBLOC inquiries.
4. SEI Investments: 800.734.1003 – For concerns with an SPTC account, any investment or funds issues, money market, or allocation issues.

Return to Top

NEW ACCOUNTS

What is required to establish a CAA for my client?

1. Fill out the appropriate CAA application. There are three categories:
   1. Individual/Joint accounts
   2. Entity Accounts
   3. Trust Accounts
   Please be sure to choose the correct application based on the client’s investment account registration. For example, if the account title at SEI is “The ABC Family Trust”, the Trust application for the checking account should be completed. Please ensure that the titling of the accounts match.
2. Gather all information as outlined in the Instruction section of the application.
3. Submit the application with all applicable documentation electronically via www.SEIAdvisorCenter.com by selecting Actions > Upload Forms. Alternatively, please mail to:

• SEI Private Trust Company Attn: Independent Advisor Solutions (Service Team)
  P.O. Box 1098
  Oaks, PA 19456-9907

How should we manage client expectations regarding account set up?
It takes 2-3 business days, on average, for both SEI and Bancorp to complete account opening procedures and link the accounts, assuming all required documentation was submitted and no further verification was required. It takes an average of 7-14 business days from the account opening date for all the new account materials to arrive. Your clients will receive the following items as applicable to their account:

1. Welcome E-mail – Sent to the client’s email address upon account opening. The email includes the password for online access to www.seicashaccess.com. If the client did not provide an e-mail address on the application, a hard copy of the information will be sent to the client’s address of record.
2. Welcome Kit – Printed upon account opening and sent to the client’s address of record. The Welcome Kit contains your client’s User ID for online access to www.seicashaccess.com.
3. Checks – Ordered upon account opening and sent to the address of record
4. Debit Card – Ordered upon account opening and sent to the address of record
5. PIN Mailer – Ordered upon account opening and sent to the address of record

Please note, the arrival of mailed items will vary depending on the location of the end client and the USPS mail system. Each item is sent separately for security purposes.

How does my client make a deposit to the CAA?
Clients can deposit funds directly into the CAA by wire transfer, account sweep, or check deposit. For details about these methods and additional methods, please visit the full list of Deposit Options.

How do I change my client’s Target Minimum and Target Maximum?
Target Minimum (required) and Maximum (optional) can be changed easily by completing the Target Balance Change Form. You or your client can submit this form to change the target amounts.

Return to Top

ACCOUNT FEATURES

How can my clients sign up for Bill Pay?
Your clients can sign up for bill pay quickly and easily. Clients can log into their account at www.seicashaccess.com, click the Bill Payment tab and complete the registration form.  In just a few seconds, your clients will be able to begin setting up payees and payments in the same session. 

How do overdrafts work?
Overdrafts in the Cash Access account will be satisfied from the client’s various accounts in the following order:

1. Available funds in the Cash Access checking account.
2. Securities-Backed Line of Credit (SBLOC), if applicable.
3. Cash & equivalents in linked SEI Private Trust Company (SPTC) account (includes Holding Money Markets, excludes DCA). Please note that mutual funds or other assets held at SEI will not be liquidated to satisfy an overdraft.

All activity in the account will initially process through available funds in the Cash Access checking account. An SBLOC can be used for overdraft protection if there are not enough funds in the checking account and this option has been selected when setting up your client’s SBLOC. For more information about an SBLOC for overdraft protection, see Overdraft Management. If the funds in the checking account and SBLOC are exhausted, the integration between the investment account and the checking account will assist in covering checks and bill pay items that are presented. Please note that if the linked SPTC account is accessed for overdraft funds, the funds must be available in cash at the time of presentment. Other assets held at SPTC cannot be liquidated to satisfy an overdraft.

How does the target balance/sweep functionality work?
On the 20th of each month (or the first business day thereafter) funds will automatically be transferred to or from your client’s SEI Cash Access Checking Account according to the instruction provided on the CAA application. The target minimum is the lowest amount that your client would like available in the checking account after the monthly sweep. If the checking account balance is less than the target minimum amount, we will sweep funds from the Linked SPTC Account to bring the checking account up to this minimum. We will first look to cash and equivalents in the Linked SPTC Account to fund the sweep amount. If cash is not available, trades may be placed. We will request follow-up funds for six business days following sweep day. This allows time for the trades to settle and as cash becomes available it will move to the CAA. The follow-up requests will stop after six business days, regardless of whether or not the full sweep amount was obtained.

The target maximum is the highest amount your client would like available after the monthly sweep. If the checking account balance is more than the target maximum, we will sweep funds to the Linked SPTC Account to bring the checking account balance down to the maximum. Funds that sweep to the Linked SPTC Account will be allocated according to the most recent instructions provided.

The monthly sweep will process based on the information on the CAA application, or the most recent Target Balance Change Form. For more information, click How Sweeps Work.

Please note that establishing a target minimum is a requirement of the CAA program; however, establishing a target maximum is not required. The target minimum and target maximum may be changed at any time by submitting a Target Balance Change Request Form.

What is the current interest rate of the CAA?
Interest rates can be found here: https://seicashaccess.mybankingservices.com/forms-facts/caa-interest-rates/

Return to Top

CLIENT INFORMATION

What transactions can I do on behalf of my client?
You are able to assist your clients with a number of transactions. To transfer money between the CAA and the linked SPTC account, you can submit requests through SEI's Advisor Desktop Actions.  Use the Disburse Cash Action to send funds from the SEI account to the CAA.  This includes selection of specific trade instructions if needed.  Use the Schedule Cash Receipt Action to move cash from CAA to SEI account.  This includes specific investment instructions for the receiving SEI account. 

CAA Standing Instructions (SIs) and Automatic Investment Plan SIs are set up as default so no additional paperwork or signatures are required.  The impact of SIs is that they render the Disburse Cash Action and Schedule Cash Receipt Action to be Eligible for Straight Through Processing of 1st party transactions. 

How can I monitor my client’s ongoing account activity?
You can now manage your clients' accounts using The Bancorp TALEA® | Lync™ client account management tool. Lync is accessible through the TALEA® platform using your existing log-on credentials. Lync provides financial professionals with more advanced and expanded account managment functions for new and existing accounts.  

A CAA Summary is also available to you on SEI's Advisor Desktop. You can see the client’s balance, interest rate, target minimum, target maximum, and full CAA account number. You can also monitor transactional activity for the checking account. Please note that lending information is now available on Advisor Desktop.  You can see the client's loan account number, commitment amount, outstanding amount and the interest rate.   

You may receive a copy of your client’s CAA statement which details the transactions for that cycle. The same CAA information is included in the SPTC statement.

Where can my clients view their activity?
Clients may view all their Cash Access and SBLOC activity by logging into www.seicashaccess.com. They may also access Funds Transfer, Bill Pay, and the full CAA forms library on this site. A snapshot of CAA activity is available on PortfolioAccess as well.

CAA and SBLOC statements will be issued directly from The Bancorp Bank, N.A. CAA information is also included in the SEI statement.

How do my clients make payments or pay off their SBLOC?
Clients can make monthly interest payments or additional principal payments at any time in the following ways:

Wire Transfer* 
The Bancorp Bank, N.A.
Wilmington, DE 19809
ABA Number 031101114
Account Number 001119100 
Reference: FBO Account Title/Loan Account Number

Check*
Please make your check payable to The Bancorp Bank, N.A. and mail to:

The Bancorp Bank, N.A.
Attn: Loan Operations
409 Silverside Road, Suite 105
Wilmington, DE 19809

Please specify on the check memo line or on the wire transfer form (Part 2: Reference) how the additional payment should be applied to the loan account:  

• Regular payment
• Regular payment plus additional principal payment
• Principal payment
• Payoff and keep account open
• Payoff and close account 

CAA Online Transfer
If clients also have a CAA established and linked to the SBLOC, they can transfer funds online from the checking account to the SBLOC. Please note, online transfers will be applied towards interest first, then towards principal.

Payoff Instructions
A client can request to have their loan account paid off in full and closed. For questions about any of the payment or payoff options, please call the SBLOC Team at 866.221.5307.

Return to Top