Vendor Guru Q&A - Operations

Electronic Management of SAR Files

Latest Operations - Cashier's Checks Topics

Check Payable to Business-Convert to Cashier's?

05/26/2019

Can a check payable to to a business ( which does not have an account here) be converted to a cashier's check payable to the same business?

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?

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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.

Special Needs Trust- Debit Card for Trustee?

08/18/2019

May a Trustee of an irrevocable special needs trust have a debit card?

Do you have a permissible purpose to pull that credit report?

08/18/2019

We were cited in our last exam for not having a permissible purpose to pull a credit report; however, I can’t find information in the regulation regarding permissible purpose. Where can I find this information?

Who can request a stop payment?

08/18/2019

The office manager for a business asked us to stop payment on a check signed by the business’s treasurer. Can we accept this stop order?

Time Stamp Access Ticket for Safe Deposit Box?

08/18/2019

When a customer accesses their safe deposit box, we time stamp the time of entry on the access ticket. Once the customer is done we time stamp the back of the access ticket. Is it required to time stamp the access ticket once access to the box is completed?

CIP for Sole Proprietor- OFAC or Full Search?

08/18/2019

We use a vendor's product for CIP purposes at the bank. When running a sole proprietor account, is there a reason we should be doing the full search or is OFAC alone sufficient? The same would go for unregistered organizations.

Latest Operations - Cashier's Checks Topics

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