How can I add someone to a deposit account? Is there a specific procedure for the signature cards or disclosures if they're even needed?
We have an IRA beneficiary who has inherited an IRA. She is a non-spouse beneficiary of the original IRA, and has named her spouse and daughter as beneficiaries of her inherited IRA (payout account). When calculating FDIC insurance, what ownership category applies to this inherited IRA, is it considered a "certain retirement account" or a revocable trust account?
If an account owner is a Trust, is it covered more by the FDIC insurance?
Do we need the words "Member FDIC" on our Google ad? When you click on the ad it takes the person to our site that does have the appropriate language. I notice that no other banks have this.
We need more information about compliance when it comes to signature cards. We use add and remove forms for account owners, signers, and beneficiaries when the owner wants to make changes after opening their account rather than printing a whole new signature card that all account owners would have to re-sign. Are these compliant with FDIC requirements when it comes to
distinguishing what type of insurance coverage they would have?
Are we required to put Member FDIC on overdraft notices, notice of returned deposit item, etc.? We typically use it as much as possible but in this case like to remove it so that I can use the same notice paper for a non-FDIC insured item - safe deposit boxes and their payment notices.
If we are listing OREO property for sale in the newspaper, must we include the FDIC or Equal Housing Lender information?
FDIC insurance-husband has set up a revocable trust, he and his wife are co-ttee (co-trustees) and son is succ/ttee (successor trustee). How much is this account insured for? The wife has similar trust with names reversed and same son as suc/ttee?
I had a customer ask if FDIC insurance coverage would apply to Cyber Crime loss of funds. Thoughts?
For a CD account with two owners and three beneficiaries, would FDIC insurance apply only to the co-owners? Or would the FDIC insurance also apply to the beneficiaries as it does in a revocable trust?