Were you a teller?
- Do you remember how much there was to learn?
- Did you have times when you really weren't sure you knew the right way to handle a particular check?
- Did you sometimes feel you were in over your head?
The teller line is the frontline of defense in the battle against check fraud and a host of other check-related losses, yet it is also often the area where turnover is the greatest. Targeted training on check-handling can help.
This Webinar will help arm your tellers with essential information about the Uniform Commercial Code and other provisions that affect checks.
Real-life scenarios and examples.
Mary Beth Guard and John Burnett discuss the laws that impact how checks are negotiated, and how handling checks the correct way can avoid potential losses for your institution.
In two fast-paced hours Mary Beth and John will discuss many of the situations your tellers face every day, and provide the legal framework for the choices they must make on behalf of your institution and its customers.
This presentation will address:
- The minimum requirements of a check
- How to determine the amount for which a check is properly payable
- Who needs to endorse various types of checks and how they should do it
- Tips for spotting alterations and counterfeits
- What the different forms of endorsement are (blank, special, restrictive, anomalous), what they mean, and which should be used when
- How to identify the proper payee of a check
- How to tell if a check with multiple payees is payable jointly, or payable alternatively
Special rule on U.S. Postal Money Orders
- How to spot a stale-dated check and what the consequences might be of accepting it
- How a postdated check should be handled
- How stop payments work
- Why special precautions should be taken when cashing checks for noncustomer payees
- Deposits to closed accounts - why it's almost never a good idea
- Who is a "fiduciary," when you would be on notice of breach of fiduciary duty, and why it matters.
- What to watch out for in a split deposit transaction
- Things to watch out for with Powers of Attorney
Special rules for U.S. Treasury checks
- Special handling suggestions for official bank checks
- When it's appropriate for checks to be payable to your institution, and when it's not
- Whether it's ever a good idea to cash checks payable to businesses
- The challenges involved in accepting third-party checks
- How to identify foreign checks and what to do about them
Don't let your tellers become overwhelmed. Help them learn the best ways to manage this important function for your institution.