The following information contains frequently asked questions (FAQs) about Q2 Goals.
No. Because each goal is created as a separate account on the Helix core, there is no way to transfer users directly from another PFM product.
Yes. While the ledgering is handled by Helix, funds will never leave the FI’s primary core. An omnibus or settlement account will be used on the primary core to hold the funds, which makes real-time transfers between held accounts possible. FIs have access to a nightly reconciliation report to balance the omnibus account against the sum total of the individual accounts.
There is not a limit to the number of goals, and the number of goals doesn't impact billing.
At this time, active goals display based on the configured target date, with the soonest target date on the left.
The frequencies match those available on the Funds Transfer page within UUX.
Yes. FIs have the option to make these interest-bearing accounts.
Helix has the ability to provide raw data for an existing 1099 generation process. The output is a comma-separated value (CSV) file with all 1099 data elements. The output is one aggregate record per user, so it's not broken down by account. The service-level agreement (SLA) for the delivery of this report is no later than January 15th. Alternatively, Helix can produce the 1099 on your behalf, which is accessible through the same eStatements page in UUX.
Yes. FIs can select a Q2 Goals category to promote what displays as the category-specific Call to Action on the Home page across all users.
The category list is static across all institutions. This list is a compilation of comparisons across other goal-based savings products. Keeping categories consistent across all institutions allows us to track comparative metrics and success rates by category.
Helix facilitates goal-based savings accounts. It has the ability to open, manage, and close goals through a single core. Helix allows existing digital banking users to set up new Q2 Goals accounts with only four data points.
If a goal meets the target balance before the set target date, will scheduled transfers still occur?
Yes. The recurring transfer won't stop once the balance is met. The user must close out the goal or cancel scheduled transfers.
Where do the Truth in Savings and eSign disclosures come from? Does Q2 have a baseline recommended version?
It is up to individual FIs to create their own Truth in Savings and eSignature disclosures. Content in the system is a placeholder used for demo purposes, not a recommendation of what to include.
Helix offers interest rate tiers based on the balance of the account. Once the user surpasses the interest threshold, the entire account balance is paid at that tier’s rate.
No, Q2 Goals are not available as overdraft protection accounts.
FIs can use the Helix Admin Console to create a ledger entry to close the account and clear the balance. FIs can then distribute the funds to the user from the Omnibus/Settlement account on the FI’s primary core. It is recommended that FIs create a procedure to check for outstanding balances before held accounts are closed.
Your FI determines whether rights apply. Helix is a subsidiary ledgering system, so funds never leave the primary core.
Goal accounts can only be established by existing digital banking users, and funded by an internal transfer. Therefore, the process your FI uses to determine that a user has gone dormant extends to their goal funds as well.
Yes. FIs can download statements on an individual user level from within the Helix Admin tool, as Helix also retains statements.
Statements can include the FI logo, name, address, and Regulation E disclosure.
The minimum length of a goal is one day. The target date for a goal cannot be set to the same day the goal is created. There is no maximum length of time.
No. Minimum or maximum amounts are not enforced at this time.
Yes, users can transfer funds out of a goal without closing it through the regular Funds Transfer workflow. FIs can configure which types of held accounts can be used to fund goals and receive goal funds.
The minimum dollar amount for a goal is one United States dollar (USD). The amount cannot be decreased to a value less than one USD.
In the Helix Admin Console, select Accounts > Overview. The APY and APR displays under Interest.
Yes. From within the Helix Admin Console, users with permissions can select Settings > Products and expand the product to view the setting.
No, the Mobile Thumb Bar doesn't interfere with Q2 Goals.
Yes, the goal will be created without error. However, because Helix is a US-based core, the foreign address may not populate correctly. Helix includes a report of members with foreign addresses for your review. It is recommended that the address is tested to determine whether it displays correctly.
What happens if the user doesn't have sufficient funds in their account to fund a recurring transfer?
The transfer will fail, but doesn't overdraw the member account. The transfer won't be reattempted until the next scheduled transfer. The user is not notified if a goals transfer wasn't completed.
FIs can archive an end user in Helix. However, they may not completely delete the customer record from the database. FIs should follow the process for informing Q2 about a member DSAR.
If Goal accounts are in Helix and separate from the core, how can the client report total account balances for purposes of shared insurance total relationship or any other enterprise reporting?
There are Helix reports available that can be used for enterprise or total relationship reporting. Reports are available using the following channels: Q2 EVE Extract v1.3+ and Helix SFTP: Account Balance File Report.
An end user cannot view a goals statement if all goal accounts are closed. To provide them with a statement or tax form, download the information through searching for the customer in Helix. If your FI has opted to provide tax forms through the Q2 Statement page, the same procedure applies.
No. Q2 Goals fund transfers occur when all scheduled fund transfers occur. This timing is typically established during initial implementation of UUX.
Goals with a target date of 34 or less days display daily, while goals with a target date of 35 or more days display weekly.
End user information about using Q2 Goals is included in the UUX help. You can find this information within Consumer Banking > Goal-based savings accounts.
Note
The help linked above corresponds to UUX 4.6.x versions and may differ depending on what version of UUX your FI is on.
For the Helix environment, a series of short videos are available: Helix Admin Console for Q2 Goals.