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#1597715 - 08/29/11 06:34 PM Beneficiaries linked to accounts
HR Banker Offline
Diamond Poster
Joined: Oct 2002
Posts: 1,027
John Doe has an individual savings account with POD to Sam Doe. Would you set up a profile for Sam and link him to this account as a beneficiary or not link him at all? If you link him then when you pull up accounts linked to his social then you'll see John's savings account listed. It would have a relationship code of beneficiary. Would this pose a risk of giving Sam information on John's account if the employee doesn't look at the relationship?

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#1597723 - 08/29/11 06:42 PM Re: Beneficiaries linked to accounts HR Banker
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I would not link POD beneficiaries for that very reason. I've seen it happen. Many customers don't want family to know the identify of POD beneficiaries until they are no longer in the picture to deal with the fallout.
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Life without Jesus is like an unsharpened pencil - it has no point.

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#1597765 - 08/29/11 07:29 PM Re: Beneficiaries linked to accounts BrendaC
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
We do not link beneficiaries on the system either. They are noted on the signature card with as much information as possible to verify their identiy if the account holder dies.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1597772 - 08/29/11 07:35 PM Re: Beneficiaries linked to accounts Doug Hendrickson
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I like to list them in the account title on the system whenever possible for record retention purposes (Jane Doe POD Sally Doe). Many systems have a mailing address override which enables you to retitle for mailings as "Jane Doe POD" if the customer wishes you to do so. Never volunteer.
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Life without Jesus is like an unsharpened pencil - it has no point.

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