How can we improve our routing / approval of commercial loan files?
What is a bank's liability for unauthorized purchases on a business VISA debit card? We have always been under the impression that we had 0 liability for unauthorized purchases and that the customer was responsible for any activity.
Can a business customer file unauthorized charges on a point of sale? If so, within what time frame? Our bank only has one BIN for our debit cards, so our business cards are not under a separate business BIN.
Does anyone have a form they use when opening a business account stating they are not an MSB?
We are looking at purchasing Small Business loans from a third party. Management would like to advertise the third party's product for small business loans to our customers. What compliance issues could the bank face by advertising their product?
Under Visa's Zero Liability rules, is there a time frame in which a customer has to report a fraudulent transaction on their account? I understand that the Reg E rules apply to ATM and PIN based transactions not processed through Visa. I am mostly concerned with Signature Based, Visa processed transactions.
This may seem like an odd question, but can we be required to shovel snow in the winter? My boss at the bank has informed us that he or she has hired someone to shovel, should we have more than two inches of snow, in the morning only. If we have less than that and throughout the course of the day, he or she has provided us with weekly rotating schedule in which each of us would be responsible for this duty. None of us are too keen on this idea. Is there legally something that could restrict this activity or do we just attribute it to the joys of a small business and deal with it?
We have a new partnership account. The customer left a previous bank because that bank refused to cash a check made payable to the partnership. If all four partners endorse the check, may we cash the checks for them? We are not sure why they won't deposit and then make a separate withdrawal. The partners are Mom, Dad and two sons.
Marketing would like to run a special where a small business customer will receive a $100 credit for opening a new checking account if they also get a debit card. Would this $100 credit be considered interest and would a 1099 INT form be needed?
A corporate (LLC) business owner wants to take cash back out of his deposit into the business' checking account. Is it sufficient to just have him sign for the cash on the signature line on the deposit slip that reads "sign here for cash if required"? Or should we require him to deposit the whole check and write out a check for the cash?