Skip to content

Correct Way to Title Account (Rep Payee)

Answered by: 

When opening an account with a rep payee, what is the correct way to title the account and who would be considered primary account holder?

In Representative Payee accounts, the bank's customer and the account holder is the Representative Payee. The beneficial owner of the funds and the individual whose SSN gets used for interest year-end reporting is the Social Security benefit recipient.

Two classic accepted Representative Payee account titling forms are:

Benjamin Franklin, Rep Payee for
John Hancock


John Hancock
Benjamin Franklin, Rep Payee

The first form puts the customer and account owner on the first line, which generally provides better information for tellers (lest they inadvertently pay out funds to the beneficial owner of the funds). The second form addresses the problem of interest reporting for institutions still working with legacy systems that require the SSN for reporting agree with the first line name.

First published on 8/6/12

First published on 08/06/2012

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics