It it allowed that a customer who is a trustee on a family trust account, may deposit checks that are made payable to that customer's business into the trust account?
Showing "DBA" on Account Records
Minnie Mouse DBA Minnie's Dresses, POD Mickey Mouse, or Minnie Mouse POD Mickey Mouse, DBA Minnie's Dresses, or something else?
I have a business customer with a business Mastercard debit card. They are disputing 100 plus fraudulent charges on their debit card with an online gambling website. When they came into the bank, they told the teller that they don't check their statements and only noticed the charges because one of their other debit cards was declined due to insufficient funds. I know this doesn't fall under Reg E, but what is the bank's liability in all of this? Does the Mastercard zero liability come into play?
Can a customer cash a check on a DBA/Sole Prop account if the check is made out to the business?
When an account requires two signatures to be present before the check is honored, how can the bank verify or allow an account like this to have ACH debit transactions or checks that have been converted into an ACH transaction? The bank does not want to be held liable for something like this if the two signatures are not available to verify.
A corporate customer's account was recently compromised. Information from an authentic check was used to create fictitious checks. Numerous $100 checks were negotiated. The fake checks don't include a payee name. In addition, the checks don't have any type of endorsement. If we consider these checks bearer instruments, and no endorsement is required by UCC, do we have any recourse with the institution who processed the (fictitious) checks, or is the loss on our side since the customer failed to identify the fake checks in time for a timely return?
Can an authorized signer sign on behalf of a business for backup withholding on a signature card? Our Backup Withholding portion states "Under penalties of perjury I certify that I am a US Person and that I am not subject to back up withholding." This verbiage is confusing our client. How can we explain to the signer the need to endorse on behalf of the business, or is that even required for a business account?
When a corporation has an account titled "Smith mowing DBA Jones Hardware," may we accept deposits in both company names into the one
We are on the verge of implementing eSign for our branches for maintenance tasks in addition to account opening and lending. I think this will help with some customers who tend to change signers rather frequently, such as with closers on settlement agents' accounts. I'm beginning to consider whether collecting their signatures on Resolutions adds value, or whether an authorization from the principals in the Resolution is sufficient? I am also considering whether we can use a separate authorized signer list with signatures as an appendix, rather than re-creating a signature card every time there is a signer added or deleted. Am I behind the times?