07/08/2013
Is it wrong for a bank teller to take a check made out to a business and convert it to a cashier's check made out to a different name? The original check endorser, the teller, and the new cashier's check are all from the same bank.
07/08/2013
Can a tax levy be placed on a trust account if the SSNs are the same?
07/08/2013
If we have a deposit promotion which pays the client a $50.00 bonus to open an account, are we required to send them a 1099-INT at the end of the year?
07/08/2013
We are beginning to offer HSAs and the question has come up if the beneficiary must be the spouse. The IRS publication 969 does not indicate whether it must be a spouse, but we are in Texas and other situations require spousal consent if the spouse is not named beneficiary (IRAs, 401k, etc).
07/01/2013
If the same two owners of a CD want to swap the primary role, do we need a new signature card? Do we need written permission from both?
07/01/2013
If a business customer has sold his business and is changing ownership, what would be the reasons to close out the old deposit account and open a new. Could the old account remain in tact and replace signature cards and business documents?
07/01/2013
When an account is opened for a minor as a joint account with a parent, does the minor have the right to close the account at anytime? Or does the parent have to also sign to close the account?
06/24/2013
On deposit accounts I have heard that some banks allow the owner to authorize a non account owner to conduct transactions on their account and they term it "subject to check." The authority stays in place until revoked or the owner's death. Is this common practice? I have not been able to locate any information on the term subject to check and what powers it encompasses.
06/24/2013
How should a testamentary account be titled?
06/24/2013
We had a customer purchase a cashier's check. We have now found out that the check was used to scam our customer. Can we place a stop payment on the cashier's check before the check is received? What reason would we give for the stop payment?