11/29/2004
How would you complete a CTR where deposits were made to a minor's account; Will there be 2 Sections A as the depositer is the custodian of the account?
11/01/2004
I'm confused about our bank's obligations regarding money service businesses. Specifically, we have a customer who is an agent for an MSB. We're concerned, because he is accepting cash from his customers, depositing it with us, then wiring the funds by means of RIO (a western-union type company), so that RIO can prepare a draft on behalf of the beneficiary. Should we be asking our customer to do a CIP?
07/07/2003
Under the USA PATRIOT Act regulations and upcoming CIP, do we need to have photocopies of the driver's license and/or social security numbers for beneficiaries on a Totten Trust? In most cases, we never see the beneficiaries, as they are not signers on the account. Also, do we have to check them on OFAC?
04/08/2003
Editor's Note: Those of you who use the Bankers' Threads message board are familiar with our international correspondent Hussam A. Al-Abed from Jordan.
03/10/2003
Can we place a hold on VA benefits when we received a levy?
02/01/2003
Question: It seems as if we will never get all the questions answered on the completion of CTRs. Ours is the completion of a CTR on deposits to joint ownership deposit accounts.
07/01/2002
06/01/2002
04/01/2002
by Mary Beth Guard, Esq.
LEVY OR ATTACHMENT? You Can Take This, But DON'T TOUCH THAT!
03/04/2002
We open all minor accounts under the UGMA. We have an account where the child is now 19 years of age. Her father, the custodian, has closed the account and placed the funds in a regular account with just his name. What is our responsibility in monitoring how these accounts are maintained. Can the minor once they reach legal age, close the account with the custodian's permission? What rights does the child have once they reach legal age?