Is a com-check that truckers use like a draft? Can they be returned outside of the 24 hours for unauthorized? We have one that is supposed to be returned to us, it was deposited on Jan 19 and still has not been returned.
Is "for deposit only" a legal endorsement and does it require a signature for depositing?
We have a customer who has been in Afghanistan for the past 5 years due to their being in the military. The customer has come back to the United States and has discovered unauthorized withdrawals which took place 5 years ago - about a month after they were deployed. Are we in compliance if we deny the claim, or we obligated to pay due to fact our customer was not receiving statements to Afghanistan. The account was charged off in 2007 and customer discovered this on her credit report.
Do you have a recommendation on who within the bank should be responsible for establishing/writing procedures pertaining to the new requirements for processing Garnishments?
Does the FDIC logo have to be on bank stationery? (i.e., letterhead stationery, personal stationery that officer uses to send thank you notes, etc.)?
Our member had two share drafts clear her account on 6/08. On 6/10, she reported stolen checks, closed the account, and filled out the required paperwork to seek a credit to that account. On 6/17 we sent the items back to the bank that originally received the credit. How long does the receiving bank have to re-present if they choose to do so?
When a customer writes a check to a third party and the third party electronically converts the check and it comes through as an ACH ARC transaction, shouldn't the bank treat these as checks and not ACH, if the system can distinguish these? Also, if the customer uses online bill payment and requests that a check be issued to a third party, should these be counted under the "6" or "3" rule? The request was made online, but a check is issued.
The FACTA (fair and accurate credit transaction act) section 113 requires that account numbers on credit card receipts are truncated. Does the same apply to banking receipts? Is this covered by GLBA?
We are updating our policy on cashing insurance drafts and checks. Can we place longer holds on these checks? Should all insurance drafts and checks be approved by a supervisor? What would you recommend for a policy?
We are in receipt of two "Pre-Authorized" Bank Drafts not drawn on our bank, along with a an affidavit of unauthorized charge. These items were originally deposited to our customer's bank account in April. I believe that under the UCC I can refuse these claims and send them back to the drawee bank. Would you have a sample letter that I can send back to the bank or the section of the UCC that I should quote for refusing these claims?