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Bad idea to have two signatures required

A father and son wanted to open an account today where two signatures would be required on each check. It’s extra work for them, but does it really matter to us?

It certainly does. If you have an account on which two signatures are required and you pay an item that only has one of those signatures, it wasn’t properly payable and you could end up with a loss because with high speed sorting and the like, you probably never even saw it.
Learn more about Mary Beth Guard’s webinar
Insider’s Guide to Operations Procedures

First published on 07/15/2018

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