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?

Special Needs Trust- Debit Card for Trustee?

08/18/2019

May a Trustee of an irrevocable special needs trust have a debit card?

Do you have a permissible purpose to pull that credit report?

08/18/2019

We were cited in our last exam for not having a permissible purpose to pull a credit report; however, I can’t find information in the regulation regarding permissible purpose. Where can I find this information?

Who can request a stop payment?

08/18/2019

The office manager for a business asked us to stop payment on a check signed by the business’s treasurer. Can we accept this stop order?

Time Stamp Access Ticket for Safe Deposit Box?

08/18/2019

When a customer accesses their safe deposit box, we time stamp the time of entry on the access ticket. Once the customer is done we time stamp the back of the access ticket. Is it required to time stamp the access ticket once access to the box is completed?

CIP for Sole Proprietor- OFAC or Full Search?

08/18/2019

We use a vendor's product for CIP purposes at the bank. When running a sole proprietor account, is there a reason we should be doing the full search or is OFAC alone sufficient? The same would go for unregistered organizations.

Latest Operations - Joint Accounts/Tenants Topics

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