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Question & Answer
Question: We have a new customer who owns a well established, very large restaurant that has been in our area for a long time. They had their account with a larger bank, and are moving it to ours. They were exempt at the other bank. Do we have to do the two month evaluation and go through the whole exempting process again?
Answer: Yes, you do. And set the exemption amount as the result of your documentation.
Copyright © 1992 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 3, No. 4, 8/92
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