A customer cashes a large check that results in a reportable CTR. My question is that the funds from the check are for Christmas bonuses for the customer's employees. I have the customer as the conductor, but who will be the beneficiary? Can we list the business as the beneficiary?
Are privately owned ATM's required to be registered in the State of Texas and if so, with what agency?
Can a financial institution offer a current customer a gift card if they participate in an online survey that is sent to their email that we have on file? We are not soliciting a product, just wanting their opinion on our services.
The bank received an ACH debit entry on October 11, 2019 with a settlement date of October 15, 2019. Monday was a holiday so Saturday, October 12, was a non-processing day on Tuesday's business day. The transaction was memo-posted and the funds were deducted from the customer’s “available balance” on the morning of October 12, 2019. However, it didn't hard post the account until the end of Tuesday's business day. An external auditor cited us for this by mentioning that the memo post was prior the settlement date of October 15, 2019, and it is prohibited by the rules. When I contacted Fiserv, they mentioned that there was no way around this. Is this really a violation of NACHA Settlement Date rules? If so, any advice on how to avoid this from happening in the future?
Can an employee contribute to a SEP IRA?