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Latest Operations - Address Change Topics

CC Authorized User Request Address Change?

03/12/2017

Can a consumer credit card authorized user request an address change on behalf of the card holder? If yes, can they change the card holders legal address and mailing address? or just the mailing address. I cant find anything in writing anywhere.

Good Address Change Procedures

08/04/2003

Our last Deposit Controls audit cited us for not following a good procedure for address changes. Our system produces a report that shows if anyone has accessed a customer's file. Employees are also required to fill out a form any time they make a change to the customer's file. To your knowledge, are we required to have a customer sign a form to show that any of their info was changed? If so, do they sign for address changes only or should they sign for any type of change (address, phone, employment...maybe date of birth or Social) to their Customer Information file?

Most Popular Operations Content

Revocable and irrevocable trusts and EINs

01/26/2025

I have two questions about accounts for trusts. Does the account title of a revocable trust need to change when the trust becomes irrevocable? If a customer had an EIN for a revocable trust prior to her death, can that EIN continue to be used now, since the trust became irrevocable after her death, or must the new trustee(s) apply for a new EIN?

Adding authorized signers to estate accounts

01/26/2025

Can an attorney-in-fact or agent for the executor of an estate be listed on the estate account as a signer if they weren't appointed by the court to specifically be on the estate account? The executor wanted to put their agent on the estate account, but I feel this could get messy because I feel the agent isn't legally bound by the will to carry out the duties of the executor.

Calculating a customer's IRA RMD

01/19/2025

We have a customer who made an IRA deposit for the previous year. When calculating her RMD, our system is including this deposit in her RMD amount even though it was not her ending balance as of December 31st. We don't believe this to be correct as everything we find says the RMD is based on the end-of-year balance. Are we correct or should we include the deposit she made after 12-31 in calculating her RMD amount?

Terms and Conditions for Online Banking

01/19/2025

We need to update our online banking terms and conditions. Is there anywhere that we can get one that is created already or a place where we can find a template?

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