If an ACH debit comes in with the word "reversal" in what I will refer to as the title, can we return it if it is overdrawing the account?
If a creditor inquires about a debt owed how would it be handled with the Privacy Act?
How does a durable power of attorney differ from a power of attorney?
Assume we have a single owner account with an attorney-in-fact, the owner dies and the executor wants info on the account transactions prior to death that were initiated by the attorney-in-fact. Can the bank release that info?
For an ACH transaction we (RDFI) have received, we believe a third party made the payment to an account and we (as RDFI) would like to return it. May we return it using the return code R23? R23 description sounds as if the recipient account holder should return the transaction.
Our bank has received several benefit reclamations and demands for funds recently for the same customer. Do we handle them all the same way?
We recently learned that our customer died. We’ve returned the SSA payments that have posted to the account. Do we return the Tax Refund too?
Family members of one of our customers came in to let us know our customer (sole-owner account) passed away; we now have a copy of the death certificate. The day after this happened, an SSI payment came into the account. Do we wait for the Government to reclaim the payment or should we return it?
We just learned our customer is deceased; he passed 4 months ago. It’s a sole-owner account. The account has a small balance, but we’ve been contacted by an insurance company saying that we have to return the last 3 payments because payments should have ceased when the customer died. Returning these will overdraw the account, and we likely will have to return funds for SSI payments too. Do we have to comply with the insurance company?
Our customer closed their sole-owner account last week; he has another account with us, but it’s a joint account. Today we received a VA benefits payment to the old account. Should we put the funds into the other account?