Thread Starter: John Burnett
Title: Re: Depositing check into deceased customer's account
|
A bank gets "knowledge" from lots of different sources. Drawing too tight a definition on what constitutes "notice" can get a bank into trouble if it pays checks from an account or accepts Treasury direct deposits of recurring benefit payments (for example). If the bank learns of a customer's death from what might be "unofficial" sources, it should have a process for verifying that information; it can't simply ignore it.
|
|
|
|
