What is the proper identification for cashing checks or making deposits?
This question pertains to a Revocable Trust Account. Our client is reluctant to submit the entire Trust document and the attorneys version of what we need to know does not include list of beneficiaries. Can we insure this account for more than $250,000 without knowing the exact number of beneficiaries? What if they do submit a list, but make changes to the Trust afterwards without notifying us and the number of beneficiaries changes, are we obligated to provide the insurance for all?
FFIEC Guidance on Privately Owned ATMs is ambiguous regarding registration and licensing requirements of Privately Owned ATMs and ATM Operators. Where can we locate specific guidance regarding licensing requirements by State/Parish/County for Privately Owned ATM Operators? We know what licenses are required by an entity to conduct business in general, however have not able to locate specific requirements for States other than those in the North East for registering and licensing Privately Owned ATMs and ATM Operators.
Our customer says "I canceled my account with the merchant" but does not provide any documents showing the account was canceled or says "my bill was suppose to be $23.00 but I was charged $37.00 and does not provide a receipt. Can the bank, since there is no evidence the error was invalid, decline the dispute?
The bank has used "replacement" to replace a private label card with a VISA open loop card. Some of the cardholders have not activated their cards, some probably because they threw away the envelope without opening their mail. The bank is considering placing a block on the cards, pending activation from the customer so that the customer can still activate rather than reapply. The other option is to send a letter to activate the account within a stated time, otherwise the account will be closed. The consumer would need to apply again for a card. IMO, the second choice is a better customer experience in the absence of some foundational regulation to assert one position or the other.