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Prohibiting ACH for Escrow: Business Decision

08/05/2018

Our practice is not conducting ACH transactions for Trust account​s​ such as Escrow​s​. Is there any compliance reason to prohibit ACH for escrow or is it merely a business decision? Escrow company doesn't conduct ACH transactions but wires or check only.

Wire Transfers/ACHs for Payroll Services

08/02/2015

Our bank is going to be implementing business online banking within the next few months. Within this module we are going to allow the business customer to initiate wire transfers and ACHs, which will be mainly for payroll service purposes. What, if any, compliance comes along with this and are there sample disclosures and consent forms that we can customize for our bank?

Permission from Business to Return Funds

03/23/2015

When another financial institution requests that we return a credit sent to one of our business accounts, do we need to get permission from the business owner to return the funds?

Personal Login to Access LLC Internet Account?

03/03/2014

I have a business customer that has a LLC with 2 other members. Is it okay for our bank to allow Internet banking for one member using their personal login? (so they are able to see and transfer between business and personal accounts).

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Overdrafts and COVID-19

09/20/2020

Can we keep an overdrawn account open longer than 60 days if the customer is struggling to cover the overdraft due to COVID-19?

Fraud using Mastercard SecureCode

09/20/2020

Our processor says we don’t have chargeback rights since a purchase was made using Mastercard SecureCode. Can we deny the claim since the cardholder’s password was used?

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