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#1765667 - 12/10/12 08:27 PM Telephone transfers
at CFB Offline
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Joined: Mar 2008
Posts: 98
IL
Can anyone give me some help on telephone transfers and who you allow to do them. For example, we have a customer that calls in and talks to a teller and wants to transfer $100 to their grandson's checking account, but she is not a signer on his account. Would you allow them to do this? Or do the accounts have to be titled the same? Or if you can tell me where to find some guidance that would be a great help also.

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#1765709 - 12/10/12 09:54 PM Re: Telephone transfers at CFB
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 78,967
Galveston, TX
Or do the accounts have to be titled the same?

Most banks require this.
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#1765722 - 12/10/12 10:17 PM Re: Telephone transfers rlcarey
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Thanks - I we just have customers that want to do this but don't know the best way to allow them to do it without coming in. Any suggestions?

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#1765729 - 12/10/12 10:23 PM Re: Telephone transfers at CFB
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
Write junior a check.
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#1765733 - 12/10/12 10:32 PM Re: Telephone transfers at CFB
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Easy for you and me to understand - customers not so much!!!!!!!

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#1770700 - 12/27/12 04:37 PM Re: Telephone transfers at CFB
~K~ Offline
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Joined: Jan 2004
Posts: 16
Oklahoma
You might consider prior authorization. Have the sending account submit a request in writing (or maintenance form), with signature, to set-up a password to transfer to a specific account.

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#1772854 - 01/04/13 10:03 PM Re: Telephone transfers at CFB
Nick Phillips Offline
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Joined: Apr 2003
Posts: 43
illinois
Debit the grandma's account to purchase a cashier's check payable to grandson. Credit grandson's account with the cashier's check. We have been doing it that way for years.

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#1772869 - 01/04/13 10:15 PM Re: Telephone transfers at CFB
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 78,967
Galveston, TX
And when Grandma approaches you and says she didn't make the call, then what? If the transfer only happens between like titled accounts, there are no damages.
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#1773255 - 01/07/13 08:05 PM Re: Telephone transfers at CFB
HappyGilmore Offline
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Pulling people out of the ditc...
we require grandma to set up a user id and password and prefer her to use our IVR to perform this, but will do so through our call center if she provides the proper id and password on a recorded line...but, she can also only transfer into an account she is on, so if she isn't on Junior's account, she can't do it...
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