When filing a CTR on a business, and only one account signer made the deposit, is it required to get the information on the other signers that were not present to file the CTR?
When opening an UTMA account can the funds be placed in a Certificate of deposit?
A customer was depositing a Not On Us check for $1500 into his checking account for $1200 and was supposed to receive $300 cash back from the transaction. The teller mistakenly keyed $1500 into the cash recycler and handed the cash directly to the customer. This is proven by video surveillance and the reporting tool from the cash recycler, which shows the denominations of the bills he received. The cash back totals $1500, is time stamped for when he is at the teller window and has the teller #. Is this sufficient proof so that the Bank can the bank legally debit his account for $1200? The customer has hung up on bank employees when we have attempted to contact him.
May a "Payable on Death" account bypass payment to the beneficiary and go straight to the estate account if the Executor requests this?
What is an LEI? Do we have to use it to establish beneficial ownership certification?
My question has to do with scams involving fraudulent checks and how we should handle the check when a customer presents it for payment. Specifically, we had a customer bring in a check for $2,900 that just didn't feel right for the type of business the customer normally conducts. The teller inquired about the check. The customer explained that he had enrolled online as a secret shopper. He was to keep $300 for himself and spend the other $2,600 buying specific merchandise to send back to the company that sent him the check. The teller called the bank on which the check was drawn and was told that it was fraudulent. We have had a law enforcement official tell us that we need to deposit the check anyway, put a hold on the account so that the funds are secured, and wait for the check to be returned so that we have a paper trail and proof that the check is fraudulent. In addition,
once we have proof that the check is fraudulent, we should give the returned check back to the customer so that they can file a complaint with law enforcement. Is this the proper way to handle the check?
If an EFT claim is made long after the statement is sent showing the transaction, the rules of investigation don't apply. So why do we investigate any of these claims?
Where can I locate a look back form for a garnishment?
Why can't we hold a customer or member liable for having the PIN with the card?
What taxpayer identification number do we use on an LLC?