08/06/2023
We had a customer call to list two people as PODs on his account. He had recently been diagnosed with stage 4 cancer. We printed all new forms for him to come in and sign. We confirmed this customer when he called. He passed away before he could sign. Can we honor the customers wishes if we put "as per verified telephone call" and show the date of the call?
11/13/2022
If our deposit customer passes away and the POD receives the money in the account, if the money in the account is over $10,000 does the bank have to file a W-9?
05/02/2021
Can a single member LLC have a POD?
05/05/2019
If only 1 person is 100% of the corporation can they name a POD on the checking account?
10/14/2018
A new CSR opened an account and let the customer do all kinds of weird things with Pay on Death beneficiary designations that aren’t legal in our state. Now what?
07/22/2018
Dan’s account names his son Rudy as the pay on death beneficiary. Dan is currently very ill, in the hospital. Can we tell Rudy he is on there as POD?
03/12/2017
Can a joint account have a POD?
11/06/2016
We have a husband and wife who want to open a checking account. They would like to make it payable on death to a revocable trust in their names. Is this possible?
01/31/2016
A member has passed, and her account was a POD account, with 3 beneficiaries listed. The executor of her estate has come in, asking to transfer the funds to the estate. Do we pay out the beneficiaries, or do we follow the executor, and transfer funds to the estate account?
09/27/2015
Can an LLC have a POD on an account?