03/01/2003
- 68% of people 65 years of age and older pay their credit card bills in full each month.
03/01/2003
Colorado recently became the first state to disperse child support payments on a plastic card versus a check. The state has partnered with U.S.
02/17/2003
We know that, under Bank Secrecy Act provisions, the bank must document negotiable instrument purchase information for instruments purchased with cash in amounts from $3,000 to $10,000 inclusive. We also know that if a customer purchases a negotiable instrument with cash over $10,000, a CTR is required. What if a customer purchases two official bank checks for $7,500 each in cash totalling $15,000. Does this require a CTR only, or must we complete an MIL entry for each item as well, since the instruments are between $3,000 and $10,000 inclusive?
02/03/2003
We have a Nursing Home that makes regular deposits with checks from Social Security. These checks are payable to residents, but only endorsed by the home. For health reasons, most of these people are unable to sign. What is the proper procedure to handle these items?
02/01/2003
Business Bank of Nevada recently announced a new automated teller machine Visa debit card product designed exclusively for businesses.
01/06/2003
We are getting hit hard with fraudulent new accounts who deposit $50 to open the account, then deposit a bogus or NSF $9,000 check two days later and withdrawal that amount before the check is returned. Any ideas how to legally stop this from happening without offending legitimate new customers?
12/16/2002
I was told by co-workers that a routing number can not start with the number 5. I am curious to know if this is true, and if it is, why can't the routing number start with the number 5?
12/02/2002
A customer has been appointed guardian for his mentally retarded brother. He wishes to open an account for the mentally disabled brother to deposit his SSI check and a check from an opportunity center. 1) Does there need to be a separate account for the SSI? 2) How should the title on be listed on the account, since the brother is not capable of writing checks? 3) What documentation other than the attorney's appointment of guardianship do we need for the account?
12/02/2002
We have an elderly customer who has a savings account with a fair amount of money in it. She must have Alzheimer's or some kind of mental problem and is very confused all of the time. She never makes any sense in her requests. In fact, her latest request is that we find her a house with water. (We believe she may have even had her water cut off at her home due to delinquent payments, but we don't know.) She brought in numerous social security checks the other day that she has been "saving". They were over a year old, so we sent them to social security and they are supposed to re-issue her new ones. She refuses to have her checks direct deposited and she doesn't want anybody to know her "business". A daughter brings her to the bank, but always waits for her in the car. What should we do about this situation? Try and talk to the daughter? We think she needs a guardian or power of attorney. We don't really have any right to say a whole lot to anyone, but we are concerned for her well-being.
12/02/2002
When a joint accountholder dies, what is the usual procedure for setting up new signature cards? Example: John or Jane Doe has an account with John's social security number listed first, and John dies. Some customers never come in to change the account, and we eventually call them and ask them to come in and do new signature cards. We have a trust account now that the husband died, but do we automatically draw up new signature cards, or what?