Did you know that if you do not sign the signature card on a joint account, it is not insured. Or that adding notes to the cards or adding signers after the fact may create liability? The fact is, small favors for customers and small errors can create substantial liability for institutions, as well as legal ownership, insurance and access issues for account holders.
In this webinar, we’ll discuss fundamental rules that will keep account representatives and officers from creating liability and future losses on the deposit side of the institution. We’ll cover when you should retype the signature card and when it can go with small changes. We’ll identify typos, whiteout, initialing and other significant issues. Common errors on ownership types and how that can create big problems on deceased accounts will also be covered. Plus, account stylings and taxpayer identification numbers – at $50 per error, how many can you afford?
What You’ll Learn
- Why checks have to match accounts
- When disclosures you give on new accounts matter most
- Impact of contracts without signatures
- Significance of failing to read and follow contracts
- Proper set up of signers, powers of attorney and other fiduciary relationships to make ownership clear
Who Should Attend
This webinar will benefit new account representatives, personal bankers, branch managers, branch operations, customer service representatives and training personnel.