Do your banks have rules on what types of bank accounts employees can open at the bank? Due to a recent experience, we're looking to restrict employees from being POAs on other people accounts, to not allow opening business accounts (for family businesses, etc.), and to keep it simple to employee personal accounts only. Wondering if anyone has any sample language to share or experiences to share when implementing something similar. Thanks!

It's been my experience that employees are encouraged to use all available services and through the consumer channels so as to better serve customers/members. Ethical issues are laid out in the employee handbook and can result in termination.

Same as above. Further, an employee should be prohibited from effecting any changes to an account that they are involved in (opening, servicing, cashing, loans/documentation, etc,) on their or on immediate family members accounts.

we don't prevent employees from any account type. but we also don't allow them to perform any transactions on any family member account - from opening, closing, updating, ruling on NSF items, taking deposits, doing loans, etc.

Very similar to Happy's post at my FI. Employees can open any account they qualify for, but cannot conduct transactions on behalf of family members.

Before you refuse to accept a valid POA from an employee you may want to check your state law. You may also want to check with your legal counsel before you start limiting an employee from being a POA for a family member that banks with your FI and limiting their ability to conduct business under the POA.

That's a valid point Dan. For example, Connecticut requires FIs to accept POAs so there'd be problems if a FI refused to accept them for their employees.

An excellent point, Dan!

There are also penalties in NY for unreasonable refusal to accept a valid POA.

Thank you all for the thoughts and things to watch out for. Much appreciated!