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#2195522 - 10/16/18 03:19 PM Reclamation of Social Security
mdog76 Offline
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Joined: Jan 2007
Posts: 645
Customer passes away in July 2018 but we are not notified of death until September 2018. Customers account receives August 2018 Social Security Payment. Social Security has sent a reclamation wanting the August payment returned. Question is: Customers account had a joint owner. Are we allowed to debit another account belong to the joint owner? We don't think so but want to check.

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#2195529 - 10/16/18 03:46 PM Re: Reclamation of Social Security mdog76
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,697
Cape Cod
That's a matter of state law and deposit contract language. If the surviving account owner actually owes you for withdrawing the August payment, you may have a right of offset against the other account.

Check the Green Book Reclamations section to see whether you have any reason to challenge the reclamation request.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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