06/24/2013
Can a Trustee or Successor Trustee designate an authorized signer on the trust's banking accounts who is not listed in the trust document?
06/24/2013
We have a daughter with POA for her mother but it does not specify that it covers the safe deposit box. There is a safe deposit box with the mother and son as joint holders. The daughter attempted to access the safe deposit box using the POA but we denied access to her as there was nothing specific for SDB access. Additionally we have information that there is a family dispute and the mother has some dementia. If the daughter comes to the bank with her mother and requests access, can we deny the daughter access to the box by asking that she remain in our lobby while the mother accesses her safe deposit box in our private areas? Additionally, if the POA did cover the SDB (which is does not but this situation made us question this), is there any liability that we would face with the other joint holder? For instance, what if the joint holder who is not covered by the POA comes to us after the POA accesses the SDB and says that he has property missing?
06/24/2013
We have a business customer that periodically transfers money from his business account to his grandchild's minor account. We are trying to explain to the tellers that they cannot do the transfer this way and they want to see it writing why it can't be done by a transfer slip and should be done by a check deposited into the minor's account. Can you direct me on where this documented and/or a reason to give them why it should not be done this way?
06/17/2013
A customer has reported to us that his father has died. We have a joint account with this customer and the now deceased father. We tell the customer we need a copy of the death certificate and that we will remove the father's name from the account. The customer then tells us he is just about to file the father's tax return and that his accountant wants the father's name left on the account until his tax refund is direct deposited to the account. If this customer had presented a Treasury check payable to the father and attempted to deposit it, we would refuse as the check is now the property of the estate. Since we have knowledge of what the son is preparing to do, should we flag the account and return the tax refund as beneficiary deceased when it attempts to post to the account?
06/17/2013
Are we as a bank allowed to issue a debit card on a savings account only?
06/17/2013
Is there a reason that we should not issue 5 debit cards on a business account as long as our Agreement covers us?
06/10/2013
What form do I use to create a power of attorney to be used in a new LLC company created in Florida for the owner's son to be able to act on behalf of the company in all matters?
06/10/2013
We have had instances where customers have filed debit card disputes after a merchant charged them twice for the same item. In most cases, the customer informs us that the merchant swiped the card and received a denied message and then swiped the card a second time and the authorization cleared. The customer then finds that the first authorization also cleared and they are then debited twice, but the merchant claims they only received payment once. Does the Bank always lose in this instance? Can we keep $50 from the customer due to liability?
06/10/2013
My bank follows a rule that we do not accept checks endorsed For Deposit Only or Pay to the Order of [a third party]. Can you direct me to the guidance on this, please?
06/10/2013
If a trust is revocable and the last grantor passes away and the trust then becomes irrevocable does the successor trustee need to have an amendment done to the trust before we open a new trust account with an EIN number? If it is a revocable trust and that was in the titling I would think it would need to be titled differently not to say revocable any longer before we just open a trust with a new EIN number still stating it is a revocable trust.