Vendor Guru Q&A - Operations

Latest Operations - Authentication Topics

SSI Payments to Deceased Customer

03/31/2019

Family members of one of our customers came in to let us know our customer (sole-owner account) passed away; we now have a copy of the death certificate. The day after this happened, an SSI payment came into the account. Do we wait for the Government to reclaim the payment or should we return it?

Automated Telephone Banking Systems

10/04/2010

Regarding automated telephone banking systems, customers can currently inquire (get account balance and info) by phone with their account number and last four digits of their SSN. If they want to transfer funds between their accounts, they must complete an application. My bank wants to give automatic access to transfers too. I'm concerned about Reg E issuing access device rules. Is calling the number and following the steps, "requesting" the access? We have new operations personnel who say all banks do this automatically. Other banks don't have customers fill out a form or call and talk to someone, it is all done through the automated phone system. Does this comply?

Securing Remote Deposit Capture Scanners

12/26/2008

How do you recommend that a Remote Deposit Capture customer secure its scanner? Is the scanner itself a security risk?

ID Theft Red Flags Examination Procedures

10/27/2008

Counterfeit Cashier's Checks

02/01/2004

Your depositor comes in with a $6,000 Cashier's check drawn on an out-of-state bank. The check is payable to him.

Information Security: Authentication In An Online Environment

01/01/2003

Perhaps your financial institution is not currently allowing accounts to be opened over the Web, or loans to be applied for online, but it's only a matter of time before you do.

ATM Cards For PCs

12/01/2000

A system that allows any consumer with a standard personal computer and CD-ROM to make real-time purchases directly from their computer to Internet retailers using funds from their own deposit acco

Credit bureau checks for new accounts

11/17/2024

What types of accounts does a financial institution need prior authorization for from a client before running Chexsystems? How does a financial institution have to notify a client that they are going to run Chexsystems? Regarding business clients - we run biz Chexsystems on the business and the beneficial owner, correct? How do we have to notify them that we are pulling their credit to determine if we can open a new account?

Banking a sole proprietorship insurance agency

11/17/2024

When banking an insurance agency that handles only cash deposits, what documents are required? Do we have to obtain their contract agreement, if they are a sole proprietorship and are licensed with multiple agencies? I am located in Georgia and regulated by the OCC.

Real-Time Transaction Level Check Processing

11/17/2024

What are the benefits of processing checks at the transaction level vs. by batches?

Information lifecycle management

11/10/2024

What does “information lifecycle management” refer to?

Completing a CTR involving multiple transactions

11/10/2024

We have a situation where a customer deposited $10,000 cash into their account that is owned by two other individuals. Later in the same day, one of the individuals makes a $200 change order on their own personal joint account. How do we complete the CTR? Do we include the 3 joint account owners for the $10,000 cash deposit, then add a role for the individual for the $200change order or do we only list the individual that was involved with the $10,000 cash deposit, with the transaction being conducted on their behalf (with no one conducting the transaction) and the $200 change order conducted on their own behalf.

Latest Operations - Authentication Topics

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