We are now clearing our own checks through Check 21 and Branch capture. Before when we had a member claim forgery (forged makers/drawer signature). We are governed under the clearing house rules that shift losses to the depositing bank and our account agreement gives our members 60 days under the state of Texas to make a forgery claim. We now have a bank fighting us with the 24 hour midnight dealing rule, which is impossible to meet when your member will have no idea in that amount of time. I believe that a depositing bank should know their customers best and know whether or not a check should be taken. Since we clear checks automatically we don't view our checks and don't have a way to know they are forged. My question is what is our defense that we have to stand on as a paying bank if a bank claims late return?
When an Official Check is missing one of two endorsements, how long do we have to return the item for "missing endorsement" and do warranty claims apply per the UCC?
I understand that loan proceed checks are considered cashier's checks. We have had several occasions where an auto dealership claims not to have received our check and we have to place a stop pay. Should the dealer be signing a notarized stop pay or should our customer who is purchasing the car do this? Can we process this internally without a notarized stop pay request?
We have a levy that came in on one of our customers. The customer has some items that are coming through his account, one being a payroll for his employees. Does the levy have precedence over the other items clearing his account, and if so, can we charge NSF fees?
Our bank has a customer who filed Chapter 7 No Assets, and it has been recently discharged. We have a second mortgage on her home; she has never been late on her payments and a re-affirmation agreement was not signed. Last week we received a "Notice to File Claims" because she has assets. She continues to make her payments on this loan. Are we to file a claim? I am not sure how to handle this. We also cannot find that she exempted the bank from her bankrupcy.
I am trying to open a personal account for a new customer. His check is made out to his name like this (John Smith Escrow Account). What are the requirements to open a Personal Escrow Account?
What is the minimum timeframe a bank can give a customer to dispute a transaction?
If a sole ownership is to be opened, using an EIN, does it matter what order the name lines are in at the account level as long as the tax reporting is under the EIN? We are thinking: 1. Sally Joe ... 2. DBA Sally Joe Crafts EIN and tax reporting Line is #2.
I have a cardholder who is disputing two card PIN transactions that took place at a local store. She claims she had her card the whole time and did not do them. Since these were PIN transactions, there are no chargeback rights. The two transactions add up to almost $950. Are we required to provide provisional credit and probably take the loss on this, or can we deny credit since they were PIN transactions?
The wife of one of our customers cashes her on-us paycheck and then deposits most of it into her husband's account. We know he allows her to use his debit card and his online banking. When asked if we can add her to the account, the reply was that it has to be this way for legal reasons. He has now signed for her to access any and all information about the account. Is the bank protected?