Account Ownership
A representative payee AKA _____ for a Rep Payee account can make a withdrawal on an account.
What is a signer?
If a check is made payable to John and Sally Doe who must sign the back of the check?
Who are John and Sally Doe? (Both of them)
What is Certificate of Deposit
When is a hold notice provided to the customer?
At the time of the deposit unless the deposit is not made in person.
What is Transunion, Equifax and Experian
The _____ of an UTMA may make a withdrawal.
What is the custodian?
If a check is made payable to Mickey or Minnie Mouse who should sign the back of the check?
What is Mickey or Minnie? (One or the other, both not necessary)
This is the department who looks over Verafin reports.
What is Bank Secrecy Act BSA
What is deposit maintenance?
What is an example of a monetary instrument we provide most frequently?
What are Official Checks
The owner of the funds in a Representative Payee account may not ____.
What is to make a withdrawal?
If a check is made out to Donald Duck Towing, how should the back be endorsed?
What is Donald Duck Towing? (to the business)
What does APY stand for?
What is annual percentage yield
5k, same as customer limit.
This is the type of hold that would be placed if you have reason to believe the authenticity of the check
What is reasonable cause?
A ____Trustee cannot make a withdrawal on a Trust account.
What is a successor?
If a check is made out to UCBI and Mickey Mouse Lawn care, who signs the back of the check?
What is the representative from UCBI and Mickey Mouse Lawn Care?
FDIC IS
What is the Federal Deposit Insurance Corporation
How long can you place a hold on new account deposit?
9 days on full amount
This is the department that handles restitution checks and subpeonas.
What is BSA?
A _____cannot make a withdrawal on a Transfer to Minors Account.
What is a minor?
If a check is made payable to cash should the back be endorsed? If so, how should the back be endorsed?
What is yes, and with the customer's name?
IOLTA STANDS FOR
What is Interest on Lawyers' Trust Accounts
Name one good reason to place a hold on a check.
What is Repeat OD, redeposited check, unable to verify endorsement of payee, altered check, stale dated check, routing number of paying bank is not current, paying bank indicates it may not be paid, confidential information to indicate check may not be paid (kiting)
This department handles ATM deposit review & foreign items.
What is item processing?