Our institution is based in Missouri, but we offer an online savings account. We are wondering about what state laws we use for charging dormant/inactive fees to accounts? Missouri Law is that once an account is inactive/dormant for twelve months we can charge a fee up to $5.00 a month. Then after five years of inactivity, the account is considered abandoned and will need to be sent to the State Unclaimed Property department. If a customer from different states opens accounts online with us, do we abide by Missouri Law or the state law which they reside in?
When opening an LLC deposit accounts, does the proof of TIN need to have the current sole member in the address?
Is there anywhere to locate Successor In Interest confirmation letter templates or examples?
What are the drawbacks of relying on new account boarding checklists?
Reg Q permits banks to pay interest on business accounts, but if we do and have corporations in this account, are we violating Regulation D?
If you see large dollar transfers from a person's business account (an LLC) to a person's personal account, and then you see large AMEX payments on both accounts, would you consider that co-mingling funds?
Can a corporation sweep from a personal account? We say no but are checking what you think?
Should the owner of a sole proprietor business account cash checks made payable to him personally using the business account?
If only 1 person is 100% of the corporation can they name a POD on the checking account?
We have a question on garnishment/levies. If we receive one do we need to verify they do not have other accounts with the bank or does it go strictly off the account number in question? We have a trust department, wealth management area, etc.