12/01/2024
If we have a business customer that notified us that a check cashed against their account was "altered" and that check was determined to be a counterfeit, but the signature on the check reasonably matches the signature of the authorized signer (almost exactly), would we still be liable to credit our customer for the counterfeited check?
09/15/2024
What does “A/G/O” mean when in a payee line? For example, “Susan Smith A/G/O Bandon Counts.”
08/13/2023
Is it legal to print a check on white stock vs. bank stock? What are requirements to be legal?
06/04/2023
If a bank receives a wire transfer request from a customer who we have a signed agreement with and which outlines security requirements for them, and the wire transfer turns out to be a BEC (Business Email Compromise), who is liable for the fraudulent "authorized" transfer?
08/28/2022
Someone opened an account in a small Louisana bank on June 3, with a bill payment check drawn on Chase bank. We placed a new account hold on it. The hold expired and funds became available but there were no transactions in the account. June 13, we receive two wires in this account from Chase Bank - memo says "for my wife Kelly Laura" and the wire came to our customer's account (not Kelly Laura). When we questioned our customer she stated "it’s for her daughter from the daughters finance that lives in Chicago and it’s for moving expenses." We asked her to come in with her daughter but she says she couldn't because the daughter is not here. We believe our customer is being scammed or something. Multiple attempts to get someone with Chase to help finally happened on June 24 when someone from Chase in our area helped us. They also feel there is something suspicious about their account holder and opened an investigation there. Meanwhile we are holding the money. Chase recalled one of the wires totaling $3,500 and we returned it. As of today were still holding $8,897. How long can we hold this, how long can we investigate, or what other actions should we be taking to protect the bank and the customer?
03/27/2022
When a decedent's checking account is debited after the death date, possibly with an unauthorized charge, can the estate present a valid claim to the bank with a copy of the death certificate as proof of authority? This is a sole account, not a joint account. The estate has debtors owed and a minor heir if that matters.
10/24/2021
Our business customer (#1) wrote a check to another business (#2) for services rendered. #2 claims that they never received the funds and #1 filed an affidavit of forged endorsement with us. The claim was sent to a large nationwide bank (LNB) where the check was negotiated, in a town located in the same state as #2. The account was opened at LNB using the same established address as #2. We don't know when or if this particular check was part of opening funds.
LNB denied our claim due to the established account using #2's business identity. Evidence from LNB indicates the account was overdrawn at some point and then closed by LNB. Do we have the right to then chargeback the funds to our Customer #1; or is LNB required to refund the funds to our bank, based on the claim of forged endorsement by our customer #1?
08/01/2021
What are some examples of how banks use tickler reports?
07/04/2021
How should a customer write a check to be deposited in an account at our bank? I'm not sure if it should be payable to the institution, Pay to the order of "ABC Bank" or is there another way for this to be done?
07/04/2021
How should a customer write a check to be deposited in an account at our bank? I'm not sure if it should be payable to the institution, Pay to the order of "ABC Bank" or is there another way for this to be done?