A customer has requested the Social Security office to appoint a new representative payee for her account. This was granted. How do we handle the change, and can the new rep close the existing account?
We have Representative Payees accounts and want to know if it is okay for the representative to inquire about information on the account, but not have access to withdraw the funds?
I am completing a CTR for a representative payee and see that BOL says to complete two section A's with the representative payee on the first page and to describe his or her business as "Rep Payee". I am not sure if that means in box 5 DBA or box 13 occupation, profession or business.
According to the Guru Q&A <a href="http://www.bankersonline.com/security/guru2007/gurus_sec121007b.html">"CTR on a Representative Payee Account"</a>, when a representative payee conducts a transaction that requires a CTR the Rep Payee and the Beneficiary should both be put into section A with the Rep Payee also in B as conductor. My supervisor doesn't agree and I need to explain why your answer is correct, but I can't find anything online. Why should the CTR be done the way it is described in the Q&A?
What is the proper titling for a representative payee account for Social Security and what would the relationships be?
I have a customer that opened three accounts, one for each of her children as they receive Social Security direct deposit benefits. The mother is the signer on each account and the individual child was added as an owner only because they are only nine, eleven and seventeen years of age. The mother wants debit cards in the children’s names so she can keep the account straight as to where she is pulling the money from. Can we issue debit cards to a minor and if so, would the mother have the legal right to use them? How would it be handled if the child’s card was used and they wanted to dispute the transaction?
How should a representative payee account be set up? The minor child is receiving Social Security and the mother is the guardian and representative of the child. Which Social Security number do we use?
We need to file a CTR on a representative payee account. Example: John Smith Joan Smith representative payee. Should both names be entered onto the CTR or just the representative payee?
Can a representative payee on a Social Security Income check deposit the check in his personal account? This is in Pennsylvania if that matters.
What documentation do we need to have if a person wants to name a Nursing Home their Representative Payee?