09/21/2015
We use the statement below to place at each desk that opens a new account or loan. Is there a specific size this should be? Most are 8.5x11, but some employees prefer a smaller size for their desks. Are there any size requirements?
IMPORTANT INFORMATION
ABOUT PROCEDURES FOR
OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents.
04/20/2015
What is the ruling on deleting a signer on a personal dda/savings account if both signers are joint owners? We have one saying we can as long as we have documentation from the owner asking to be removed but the other employee states a whole new checking/savings account has to be opened regardless of one owner wanting to be removed.
12/15/2014
We have several small locations. Some of the locations use the new accounts personnel to fill in during lunches in the teller line or when a teller is out of the office. These are small staffed branches. Our compliance office is telling Management we cannot do that anymore. What is the real risk here? The new accounts personnel has their own drawer. They balance after they are done during this period and close for the day as a teller.
09/29/2014
Among other documentation that we give to CD customers at account opening, we also give to them: 1) Account Agreement 2) Signature Card 3) Truth in Savings. Are we required to render to the customer all 3 of these docs or just 1 or 2 of these?
08/25/2014
A person opens a business account. This same person, has other transaction accounts at the institution, including business accounts, over 30 days old. Is the new business account subject to the Reg CC new account holds?
08/25/2014
Should ChexSystems be run on POAs, Rep Payees, Executors, any fiduciaries?
06/23/2014
Can a sole proprietor use the same tax id number for two different types of accounts in the state of VA?
03/24/2014
We run all of our new checking account customers through TeleCheck. When opening a business acct, such as an LLC, is it necessary to run an Authorized Agent only? They are not a Member or Manager.
03/10/2014
Should an account be opened with a ITIN Number - starting with a 9? If so, what other documents are needed?
01/27/2014
We have someone who would like to open a benefit account for someone with large medical expenses from cancer. How should this account be titled?