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#1239591 - 08/26/09 05:13 PM Representative Payee Accounts
Playin 88-Keys Offline
New Poster
Playin 88-Keys
Joined: Aug 2009
Posts: 20
Riding along the Coast
Here I go again, with a sticky situation.

On a Representative Payee account, the individual is listed as the owner of the funds but does not have withdrawal rights. How can we prevent the customer from coming in and withdrawing funds if he/she is listed as owner? How are the tellers suppose to know not to dispurse funds to the owner(s)? I suppose we can put a status code on the account informing the remaining staff on the situation, but I want to see if anyone else has any ideas or suggestions.
"Enjoy the simple pleasures of life"

Any feedback is soley based on my experience and do not reflect that of my employer.

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#1242249 - 08/31/09 07:04 PM Re: Representative Payee Accounts Playin 88-Keys
Auditor247 Offline
100 Club
Joined: Jun 2006
Posts: 140
Our system information shows that the account is representative payee and our tellers look at the signature card to determine transactional authority. The actual owner does not sign the signature card. Only the fiduciary signs. I guess it's primarily a matter of training the tellers about representative payee accounts.

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