Can an estate account be opened in a different state from the one the decedent resided in? We have an executor who lives in our state, but the decedent is from a different state. The executor would like to open an account with us after she was told by larger regional banks that they would not open an estate account if the decedent and executor did not live in that same state.
This is actually Texas specific, but I need help. Does the Uniform Single- Or Multiple-Party Account
Form apply to sole proprietorship accounts? I cannot find a clear answer on the applicability to this account or entity type.
Can a bank account be opened for a non-US citizen who is here to work for 2 months with an ITIN number rather than a work purpose only Social Security Number?
What is the regulation and where do I find this, on holding bank statements for customers, or is it a bank policy issue?
I am reviewing a deposit ad for branch flyers. The Free Banking Service package includes an array of free services including free money orders, official checks, and stop payments. Should there be a disclosure as to how many and how often the customer can receive this benefit or does the statement to contact an employee for more information cover this?
What happens when one of 2 or more beneficiaries dies before the account owner? In this case I'm referring to a depsoit with two beneficiaries and one has pre-deceased the account owner. The account is in PA if that influences the answer.
How are smaller banks, say in the $200M asset size, managing compliance risk when diving into online account opening? I'm very concerned about CIP-CDD-EDD. I cannot fathom never obtaining a wet signature or seeing a check prior to accepting a deposit. Also, asking the CDD-EDD questions online is completely different than in person regarding getting a feel for the customer. Do most banks also open new accounts online for businesses, trusts, estates, etc? Is there a vetted software company that is preferred for this endeavor?
What is the bank's responsibility when it comes to online banking fraud? We have a customer, his niece got ahold of his account number, signed him up for online banking, sent out P2P payments to herself and others, and now he's negative in his account. He did file a police report against her. Does this fall on the customer or the bank?
When an online deposit account request is declined, is the denial notice provided required to be dated?
What documents do we need to open accounts to be in compliance for non-resident aliens other than the regular documents (CIP etc)?