Vendor Guru Q&A - Operations

Electronic Management of SAR Files

Latest Operations - Joint Accounts/Tenants Topics

Writ of Execution & Joint Account Hold

03/31/2019

I have a question about a writ of execution. Our bank is in the state of Pennsylvania. If we receive a writ of execution on an individual and they have a joint account may we put a hold on that account if the other person is not listed on the writ of execution?

TIN on joint trust

10/14/2018

If there is more than one grantor/trustee, as in a joint trust, upon the death of the grantor whose SSN was used, can the SSN of the surviving grantor then be used?

Adding 3rd Person on Joint Checking Account

07/01/2018

Can either owner of a joint checking account add a third person on their own authority alone?

Joint Standard DDA Safe Deposit Box or SAV Acct?

09/24/2017

I cannot find the answer to this question anywhere - Joint standard DDA, safe deposit box or SAV account; when the bank has knowledge that one of the account holders has died, are we in violation if we do not change the title/ownership on the account? Widow would like to leave her husband on the account (he is primary)?

Difference b/w Joint as Tenants & Survivorship

06/18/2017

When dealing strictly with spousal accounts, is there any difference between Joint as tenants by the entirety or joint with survivorship?

Can a Joint Account Have a POD?

03/12/2017

Can a joint account have a POD?

Requirements for a Valid Joint Tenancy

02/26/2017

Joint tenancy - deposit account: What are the requirements for a valid joint tenancy? Can a baby be a joint tenant with his parents?

US citizen 1st As Acct Holder for 1099 Purposes

01/29/2017

I need to know what law pertains to placing a US citizen first as an account holder for 1099 purposes when they have a jointly held account with a non-resident alien who does not have a tax identification number? Can someone point me in the direction of any law that states this?

POD to Revocable Trust: Joint Account

11/06/2016

We have a husband and wife who want to open a checking account. They would like to make it payable on death to a revocable trust in their names. Is this possible?

Deposit Checks Into Joint or Open Estate Account?

07/19/2015

We have a customer that passed away in April, but we have checks dated March, the month before. Can we deposits those checks into a joint account instead of opening an Estate Account?

Banks and BSA/AML penalties

12/08/2019

Have there been any significant BSA/AML penalties imposed on banks?

IRA Dormant 5 Years- Send to Unclaimed Property?

12/08/2019

If an IRA is dormant for 5 years and the customer is 50 years old, do I need to send it to unclaimed property?

Meaning of Letters LE After Name on Check

12/08/2019

What do the letters LE mean after a person's name on a check?

Check Endorsements- John Doe by Mary Doe

12/08/2019

I have a question about check endorsements. For example, assume a check is made payable to John Doe. Mary Doe brings in check to cash and endorses it John Doe by Mary Doe. John Doe doesn't appear to be our customer. We have no way of knowing if Mary Doe has authority to sign for John Doe. Should this check have been cashed?

Disclosing A Bonus Paid Considered Interest?

12/08/2019

Is the bank required to disclose that a bonus paid will be considered interest and be reported on a 1099-Misc? Should the information be disclosed in the advertisement of a bonus?

Latest Operations - Joint Accounts/Tenants Topics

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