Vendor Guru Q&A - Operations

Latest Operations - Deposit Accounts Topics

Closing unprofitable accounts

07/02/2017

Our bank had a big promotion for “free” accounts with a minimum opening deposit of $25. Some customers never deposited any further funds and the cost of maintaining these piddly things is high. Are we stuck?

Difference b/w Joint as Tenants & Survivorship

06/18/2017

When dealing strictly with spousal accounts, is there any difference between Joint as tenants by the entirety or joint with survivorship?

H&W trust revocability

06/11/2017

Do all husband and wife trusts become irrevocable upon the death of one of them?

TIN on joint trust

05/28/2017

If there is more than one grantor/trustee, as in a joint trust, upon the death of the grantor whose SSN was used, can the SSN of the surviving grantor then be used?

When trust becomes irrevocable

05/21/2017

If the trust has two grantors (husband and wife) and one of the grantors dies, is the trust still revocable until the second grantor dies?

POA effective date

05/21/2017

Does a power of attorney go into effect immediately after it is executed?

Common deposit exceptions

05/14/2017

What are some common deposit exceptions that banks deal with?

POA after death

05/14/2017

We just received a power of attorney that says it shall remain in force after the death of the principal. What do you think about that?

Restricting employee social media posts

05/14/2017

Can our bank prohibit (or strongly discourage) employees from listing their bank name on their personal Facebook page?

Trust vs. will

05/14/2017

Customer has a trust and a will. Customer dies. Which one controls what happens to the account?

Can this error claim be denied?

09/29/2024

I am working on a Reg E dispute where a customer insists, he did not make a transfer on Western Union, and it is fraudulent. Western Union denied the chargeback and sent thetransaction to me which has all of customer's information as sender, including name, email address, home address, and phone number, and they state it was authorized...The only thing I see as "off" is the IP address is out of state. Can I revoke provisional and deny the claim based on this proof from Western Union or not, since customer insists he did not do it?

Latest Operations - Deposit Accounts Topics

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