Latest Security - Checks Topics

The Basic Banking Bill in the House of Representatives (HR6) requires financial institutions to maintain low or no cost accounts for certain individuals.

National average charge for bounced checks is $13.51, according to an ABA survey.

According to a study done in California, there is one criminal incident per 3.5 million transactions at the ATM.

Question: We have a customer who deposits numerous checks each day who wants to do their own encoding. What is our liability if we allow them to do that?

Question: We are having a few problems with the Bank Secrecy and Money Laundering rules. Can you please describe the situations where multiple transactions apply?

Question: Income tax refund is coming up. When we get a check at the teller's window that is payable to both husband and wife, and only the wife is here, can we cash the check?

The average cost of relocating employees last year was about $37,000 each. During 1990 about 550,000 employees were transferred by companies at a total cost of more than $18 billion.

Options are now available for Automatic Teller Machines that may finally ease the teller lines in banking offices.

Question: I have been using the articles in Bankers' Hotline on forgeries in our teller training classes, but I have a question that wasn't covered in the articles.

Question: We had numerous calls about the credit card article ("Credit Card Numbers For ID", Vol. I, Num. 6).