Dda Account
The Developmental Disabilities Administration is transforming lives by providing support and fostering partnerships that empower people to live the lives they want. The 2021-2023 Strategic Plan describes our work and expected outcomes to accomplish the mission. With PNC's Depository Services, you can concentrate funds into a central account, reconcile each depository account individually, and receive timely and accurate deposit information. These services, and their features, support your ability to manage funds efficiently, especially when your DDA needs are more than just the basics. The Developmental Disabilities Administration (DDA) has gathered resources and developed guidance to assist with the delivery of community-based services in response to. That particular DDA account is set up and used only for this process, and works in the following manner: The customer uses card that taps into a DDA account that has a zero balance. The account automatically advances the amount of the transaction into the DDA account. So the account is debited, shows a negative balance, which is then zeroed out.
The Servicer will cause all collected and identified funds on deposit in the Master DDA Account to be swept to the Collection Account within one (1) Business Day after identification.
The Servicer and the Borrower shall direct the Obligor of each Pledged Receivable to remit all Collections owed by such Obligor to the Lockbox or by wire transfer to the Master DDA Account or the Collection Account (and except as provided in the Intercreditor and Lockbox Administration Agreement shall use its best efforts to ensure that only funds constituting Collections shall be deposited into the Lockbox and Master DDA Account).
Until the Collection Date, the Borrower shall have no rights of direction or withdrawal, with respect to amounts held in the Collection Account (other than amounts remaining after giving effect to the application of Section 2.06(a)(I)(i) through (xi) and Sections 2.06(a)(II)(i) of this Agreement) or the Master DDA Account, except with respect to funds not related to any Pledged Assets, which were incorrectly deposited into any such account.
The Borrower shall ensure that the Backup Servicer has access to account information with respect to all deposits, withdrawals and reconciliations with respect to the Lockbox, Master DDA Account and the Collection Account.
As soon as reasonably practicable and in any event within two (2) Business Days after occurrence, notice of any change in (i) the name, account number, or similar information pertaining to the Lockbox, the Master DDA Account and/or the Collection Account, (ii) the Custodial Agreement as it relates to the Collection Account or (iii) any other documents, agreement or arrangement concerning any of the above-mentioned accounts.
DDA Personal Account
Minimum Balance Requirements |
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Processing Order |
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Transaction Limitations |
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DDA Student Account
Eligibility Requirements |
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Minimum Balance Requirements |
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Processing Order |
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Transaction Limitations |
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DDA Personal Account – Age 65 and over
Eligibility Requirements |
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Minimum Balance Requirement |
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Processing Order |
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Transaction Limitations |
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MMA Personal Account
Variable Rate Information |
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Compounding and Crediting |
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Minimum Balance Requirements |
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Processing Order |
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Balance Computation Method |
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Accrual on Noncash Deposits |
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Transaction Limitation |
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Current Rate Information |
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NOW Personal Account
Dda Account Type
Eligibility Requirements |
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Variable Rate Information |
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Compounding and Crediting |
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Minimum Balance Requirements |
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Processing Order |
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Balance Computation Method |
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Accrual on Noncash Deposits |
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Transaction Limitations |
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Current Rate Information |
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