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May 27, 2015
Compliance Management – Phase 1, your Program and Training
Andy Zavoina

May 28, 2015
Integrated Disclosures 101
Mary Beth Guard, John Burnett and Andy Zavoina

June 11, 2015
New Tech Advances to Improve Info Security
Susan Orr

June 22, 2015
50 Key Considerations for Integrated Disclosure Rules Readiness
Mary Beth Guard and Jack Holzkechnt

June 23, 2015
The IRS and TINs: The High Cost of Name Mismatches
Deborah Crawford



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#613947 - 09/15/06 03:49 PM payee on fbo account check deposits
VirginiaBanker Offline
100 Club

Registered: 11/02/05
Posts: 112
WE have a opportunity to open a commercial account for a customer (lockbox firm)who is processing transactions for its clients. Account will be titled in name of processor, processor's SS#, etc. Checks deposited will be made payable to the client. What kind of endoresement issues will we have here since checks will not be made payable to our customer. Do we need endorsements from both entities?

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Deposits and Payments
#613948 - 09/15/06 11:57 PM Re: payee on fbo account check deposits
cologirl@heart Offline
Gold Star

Registered: 03/27/05
Posts: 355
Loc: WY - still a CO girl, though
Okay, so I am not an expert... but when I worked down south (Colorado way), we had several credit unions that would bank with us. If we ever had anything come back on them for endorsement issues, we sent them back to the CU. We never had any way of proving that the account belonged to the payee. That was their job. They are responsible for the endorsement of the item. Hope this helps some.
_________________________
...it's all opinion, until proven otherwise...

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