04/21/2024
We have a number of deposit accounts that were opened where the accountholder desired to have two signatures required for withdrawals. As this has become burdensome for bank staff to verify the incoming clearing checks, we would like to eliminate this requirement. For the existing account holders, what, if any, notification is required?
The account agreements on file currently state "Except as otherwise provided by law or other documents, each of the undersigned is authorized to make withdrawals from the account, provided the required number of signatures indicated above is satisfied." The number of signatures above on the signature card states 2.
10/29/2023
If Bank A accepts a mobile deposit that is endorsed with "For Mobile Deposit Only" and that same check is then physically deposited at Bank B with that same endorsement, what bank is liable for the loss?
08/20/2023
I am new to my role and getting several different answers to this question. Can we cash a personal check for a customer if all they have is an LLC or Corporate account? Can that account be used for recourse?
07/23/2023
An on-us customer sends out loan checks and on the back prints "For Deposit Only" under the indorsement line on the back of the check. Can this check be cashed?
07/23/2023
We have a non-banking client who received several checks from his deceased grandmother (our client) which total over $10K. He is traveling from KS to Fla to cash these checks. Our problem is that he doesn't have a Social Security Number. Can or should we cash the checks and create a CTR, or refuse him? He does have a DL. He lives off the grid....we will file a SAR for sure.
02/26/2023
Can a check payable to an LLC be endorsed over to a corporation?
We have a customer that is wanting us to accept checks made payable to his LLC and allow him to deposit them into his corporation account.
12/18/2022
One of our official checks cleared twice. A nonmember walked the paper check into the branch to be cashed and completed the full endorsement on the back of the item. Later that same day, we received the item again in our daily check processing batch. That one looks to be taken in by the other bank as an RDC, however there is not one thing written on the back of their image - no signature, no "for mobile deposit" check mark, no "for mobile deposit only" written - nothing.
We did not find this duplicate until we reconciled the monthly register for official checks. Do we have any claim to recover the funds from the bank that ran the RDC without any sort of endorsement? We hold the paper item.
10/09/2022
A customer with charged off loans came in with a check drawn on another customer of this bank. The check had sufficient funds to cover the check. Since the payee of the check had charged off loans, are we required to cash the check?
01/02/2022
We had a customer who filed a counterfeit affidavit of forgery in June for an item which cleared in May. The customer notified us beyond 28 days and but within 60 days. We had to deal direct with the other bank (Chase). Since the customer notified us within 60 days does this mean we take the loss, or can we wait for the other bank to respond? If we can wait, how long does the other bank have to respond to our request?
12/12/2021
When mailing a chargeback to a customer, is it required to include a brochure explaining Check 21? We give out disclosures at account opening explaining Check 21 and since it's been in place since 2004 do we really need to send one with every chargeback?