04/30/2003
02/03/2003
If we accept a check drawn on our institution for deposit and then a stop payment is placed on the check, do we still have the ability to return the item to the depositor? In our case a check, that was drawn on our institution, was deposited with several other checks at noon by one of our customers into their account with us. At 2:00 our customer that the check was drawn on called in a stop payment. We do not verify the checks that are deposited until they are processed at night and we returned the check to our depositor.Our deposit customer claims the stop payment was not effective since it was given after we had accepted the check for deposit. Is he correct?
02/01/2003
The health care industry and the nation's employers are looking at new ways to make the payment of health care benefits easier, and one of those ways is through debit cards.
01/20/2003
Can the remitter of an official check place a stop payment on it?
12/02/2002
What is the correct procedure under the UCC to return a check for improper or missing endorsement? We received a reimbursement request from ABC Bank regarding an Income tax check for $4,094.80 that was payable to John Doe and Mary Doe. John Doe was in jail at the time the check was deposited. Mary Doe apparently forged the name of John Doe and there was another third party name signed on the check. Our correspondent bank accepted the check for deposit. Are they liable for reimbursing ABC Bank since John Doe is claiming he never signed the check?
10/21/2002
I am looking for some information/data on customer acquisition/retention for all banking customers. Does anyone know of any good market research firms specializing in financial services and the customer satisfaction in that sector? The data I am looking for is: 1. What are the things that attract customers to a bank? 2. What are the primary drivers of satisfaction when they are a customer? 3. What are the main reasons they would leave/switch?
10/21/2002
We have a customer who says that, at one time, she was told that, b/c she was hard of hearing, she could receive online banking at no charge. I don't know who told her that but for the last year, up until June 2002, we weren't charging anybody for online. When we started charging, in June or July, she called and told us about her fee waiver. Our Audit Department says that we are not under any obligation to waive the fee for disabled persons. But my question is: Since she claims to already have been told we would waive it, do we have too? And: If we waive it for her are we, then, obligated to waive it for other people with similar problems? As an example, I have a customer who is legally blind and would like online free b/c she can pull it up on her computer and she has a program that will read her the info off the screen. This customer says that she can't afford the $2.50 per month that we charge. What do you think?
09/23/2002
09/16/2002
Is the depository institution required to be in a loss position before it can make a claim of late return? And if the depository institution is in a loss position at the time it makes the claim, is it required to remain in a loss position in order for the paying bank to accept the claim? In other words, what happens if the depositor has made good on the funds prior to receiving the paying bank's response? UCC provides the time frames for returns, but I don't see anything that states that the depository must be in and remain in a loss position in order to make a claim of late return.
08/05/2002
Can a bank use or allow a POD on a safe deposit contract?