A customer came in and opened a savings account for his disabled son. He is the son's representative payee. Due to the USA Patriot Act (CIP) do we need to get ID from the son? How should the account be titled? Is the son the beneficiary? Can we offer a MAC card on this account?
Question: We've been asked by a long standing customer to open an account for him so that he can serve as a representative payee for his mother, who is living in another state.
We have a Nursing Home that makes regular deposits with checks from Social Security. These checks are payable to residents, but only endorsed by the home. For health reasons, most of these people are unable to sign. What is the proper procedure to handle these items?
A customer has been appointed guardian for his mentally retarded brother. He wishes to open an account for the mentally disabled brother to deposit his SSI check and a check from an opportunity center. 1) Does there need to be a separate account for the SSI? 2) How should the title on be listed on the account, since the brother is not capable of writing checks? 3) What documentation other than the attorney's appointment of guardianship do we need for the account?
We have a group home in our area for mentally challenged individuals and many want to set up accounts with the bank. They receive Social Security payments made payable to representative payees. What documentation should we require for verification, and how should the accounts be titled?
Though the Social Security Administration "allows" representative payees to have checking accounts for the benefit of the recipient, what do you think about ATM cards being issued?
What are our responsibilities on negotiating a US Treasury Check payable as follows: Ruby Winter for Jessica Summer The check will either state "Soc Sec for July" or "SSI for July". Can it be accepted for deposit into an individual account for Ruby, can Ruby cash it,or must it be deposited into an account styled exactly like the check is payable? Do we have any responsibility for ensuring the funds are used for the minor? It has become a customer service issue. For example, perhaps Jessica's father was killed, so she receives the SS benefit. Ruby uses the money to make the house payment, buy groceries, etc. and does not want to keep up with another account.