CDD
I practice law, and I am the president of my own law firm Jonida Law LLC. For the purpose of the account, who is my employer on DNA and what is my occupation?
Employer: Self Employed
Occupation: Lawyer
I am the letter from the IRS stating your EIN has been issued to you. What am I?
Your SS-4
Can I use my PO Box as mailing and physical address?
No, only for mailing. We need an actual physical address.
Can I send an EWIRE internationally via my Treasury Express?
No
Can a business owner use his primary residence as collateral for a business loan?
Yes.
I am a sole prop working under my SSN, do I need to do a beneficial ownership form?
No
I'm an attorney wanting to open an IOLTA account under my own LLC's practice. Aside from my business documentation that I bring in, there is one more form that I need to provide to open my account. What is it?
IOLTA State Enrollment Form
Can I add a beneficiary on my business account?
No. Only on consumer accounts.
I just initiated an ACH, will my vendor receive my payment today? (The time is 1PM)
No, the cutoff time is 10AM Pacific time for same day ACH.
What is the minimum opening deposit for an IOLTA account?
There is no minimum opening deposit for IOLTA's.
What is the correct address that should be listed for the business owners on their Cert form? Home or Business?
Home
I want to come in and open an account for my LLC, what documentation do I need to bring?
Business License, Articles of Organization (with appointed officers)
(The more documentation we can provide the better)
What is the only business document that we complete on DNA after the account is opened?
Exhibit A
Your client comes in stating they wish they could transfer between their personal and business accounts. What should you do?
A new Treasury Express Authorization form with the Business and Owners names/ Tax ID's.
My bill pay allows me to go back and look at the history of up to ___ months
18.
I am the one Naics code that does NOT need to match between DNA and Verafin.
Owners occupational Naics code.
You have a client opening a business account for their non-profit corporation. Besides collecting the business docs, what additional form do you need to provide the client to fill out?
NGO Questionnaire
Do businesses have an initial deposit limit on their new account?
Yes. $100,000.00 for the business premium money market account.
A business client with check validation can review their checks starting at ____AM until ___ AM to return or approve their items.
6:00AM to 10:30AM
What is the start and cut off time for same day ewires?
Start is 6:00AM, cut off 3:00PM.
Your client comes in stating he wants to remove a signer from his business account, the signer being removed owns 22% of the company, but he is the control person. What forms do you need to update?
Owner and Business CDD's, new Master Business Signature Card, Cert of Bene Owners, treasury express authorization.
Can I use a Master Business Signature Card signed a day before opening the account?
Yes. DOQC allows us up two days.
I am a client that has a single member LLC, and has the operating account with WAFD. I also have a trust that states that upon my death, the business is managed by the trust. Who is the owner of my business account?
The client is the owner of the business account until they pass.
I am a business owner who travels a lot and I need to send an international wire, however I cannot come to the branch, what are my options?
We can set up Out of Branch Business wires Authorization. ( We do not advertise this service as it is high risk for the bank, so please partner with your BM if you feel this is needed)
I am an interest bearing account made for Brokers and Real Estate Agents.
IBRETA.
Interest Bearing Real Estate Trust Account