We have what we call a Dormant Release Authorization form which is always completed when a branch manually updates the dormant field on an account. What is required on the form and how many people must sign it depends on the activity being used to take the account out of dormancy:
1) Customer walks into branch: 3 signature required: Person helping customer, Manager, and Customer.
If it isn't discovered until later that the customer came into the branch, then the branch would research what was done that day (withdrawal, cash a check, etc.) and a copy of whatever item the customer signed that day would be attached in place of the customer signature on the Release form. Of course the customer’s signature has to be verified (compared to signature card) by two people at the branch, one being a manager.
If the customer didn’t sign anything that day, then this method cannot be used.
We also use DocuSign and can send the release form to the customer that way also.
2) The customer sends in a signed letter. Requires two branch signatures on form, one must be a manager, and letter from customer is attached.
3) Customer conducts a transaction which requires no branch interaction – this could be logging into their online banking, accessing telephone banking, or making a Debit Card transaction to a brick-and-mortar merchant. Only one branch signature is required on the form, plus they copy and paste the customer initiated activity from the account history to the form.
4) As an exception we allow telephone verification – however that requires that the manager perform a call-back to the customer to a number on file. We try to opt for DocuSign instead of phone verifications, but we do once in a while have some older customers that would not be able to navigate even something as easy as DocuSign.