What are the drawbacks of hard copy signature cards?
I am in search of software of some sort to do the following for the Safe Deposit Box area:<ul><li>All agreements and contracts online.</li><li>All entry cards online.</li><li>When a customer wants in their box, they would no longer sign a card. They would sign an electronic pad that would add their signature to their records.</li><li>Do billing and reconciling.</li></ul>Can anyone help me find this?
I am chairman of our Compliance Committee and a question was raised by our deposit area. Our deposit area accepts stop payment requests via e-mail and through our PC Banking package. Their question is whether this constitutes a signature within the 14 days established by UCC 4-403 or is it a verbal arrangement that requires a signature. My response was that a signature would still be required within the 14 days on any stop payment accepted by these methods. Would you concur?