Vendor Guru Q&A - Operations

Electronic Management of SAR Files

Latest Operations - Cashier's Checks Topics

Expiration Period for Cashier's Checks?

10/21/2018

Is there an expiration period for cashier's checks?

Reg CC Hold-Cashier's Check & Personal Check

09/16/2018

Please advise on the following scenario: Customer deposits a $4000 cashier's check with a $5000 personal check (total deposit $9000). This is not a new account and we have no reason according to Reg CC so be able to hold the cahier's check. The teller wishes to place a case by case hold on the remaining $5000 of the deposit. Per Reg CC would she only be able to place a hold for $4800, or could she hold the whole $5000 for two days because she has already released the $4000 due to the cashier's check?

Require Surety Bond if Cashier's Check Lost/Stolen?

06/03/2018

Should we require a surety bond from the customer when they state that a cashier's check has been lost, stolen or destroyed?

Printed "Refund Anticipation" Cashiers Check

03/11/2018

We have several companies who print "Refund Anticipation" checks that have the words "Cashiers Check" at the top. Is there some way that we can put a hold on the check without being criticized by our regulators for placing an improper hold?

Can A Stop Pay be Placed on A Cashier's Check?

01/21/2018

Can a stop pay be placed on a cashiers check?

Stop Payment on Cashier's Check (Non-Customer)

03/05/2017

We had a situation where a teller cashed a check for a non customer that had a stop payment issued by our customer. Teller issued non customer a cashiers check. Can the bank place a stop payment on that cashiers check because there was a stop payment on the check that purchased the cashiers check?

Unauthorized ACH conversions of cashier’s checks

06/26/2016

We paid an ARC entry that was created from our cashier’s check. We’re concerned the original check might also be presented. Can we stop payment on the check?

Replacing "On-Us" Check with Cashier's Check

05/15/2016

If a non-customer brings in an "on-us" check and wants to replace that check with cashier's check, who should the remitter be?

Using Personal Check to Purchase A Cashier's Check

11/03/2014

If a customer brings in a check that is made payable to them and they would like to purchase a cashier's check, is it necessary to have them deposit that check into their personal account first? Then we would do a withdrawal from that account to make the purchase. If it is necessary to deposit it first, and can you please explain to me why?

When Can a Hold Be Placed on a Cashier's Check?

05/19/2014

When can a hold be placed on a cashier's check?

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Stop Payment on Official Bank Checks

Question: Can you clarify something for me?

Issuing Cashier's Checks to Payday Lenders

Question: We have some payday lenders who present a check to us written by a customer on their account with us payable to the payday lender.

Garnishment/Levies-Verify No Other Accounts

04/21/2019

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.

2019 Legal Alert: Bank ADA Lawsuits Mount

04/21/2019

How many banks have been sued under the ADA in federal court in 2019?

Reg CC reasonable doubt holds

04/21/2019

When our tellers are unsure about a check drawn on another bank by an unfamiliar business, they usually try to verify the check by phone before accepting it for deposit. They are frequently told by the issuing bank that the bank doesn’t verify checks. Is it OK to place a “reasonable doubt” hold on these unverified checks”?

Misleading Collection Scripts Cost Financial Institution $28.5 Million

04/21/2019

In its $28.5 million settlement with Navy Federal Credit Union (NFCU), the Consumer Financial Protection Bureau (CFPB) stated that NFCU's collection letters contained material misrepresentations – or unfair or deceptive abusive acts or practices – that were likely to mislead consumers; how did NFCU's templates violate UDAAP?

Can a bankruptcy trustee receive electronic copies of checks?

04/21/2019

Do we have to give paper checks and paper statements on bankruptcy accounts?

Latest Operations - Cashier's Checks Topics

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