A business customer comes in to open an account. They do not have any supporting documentation nor are they listed on SOS. They say they are an "association" so they really don't have anything.
What is shouldn't open it until you receive additional information to know who has authority even if just meeting minutes
100
Most obtain an EIN for banking purposes only
What is Associations
100
If the name of the owner on a Sole Proprietor is not listed within the DBA this is required
What is W9
100
Two main types of Corporations
What is S and C
100
"Owners" of an LLC
What is a member
200
A non-signer of an organization comes into make changes on an account requesting signer changes
What is shouldn't until you get proper documentation that gives that person permission to make the changes
200
When creating an individual within DNA, WTC’s CIP Policy requires both of these date related pieces of information for primary identification
What are the Issue and Expiration Dates
200
An established Corporation will have this documentation
What is Articles of Incorporation or Corporate Charter
200
Types of Partnerships
What is general and limited
200
Individual whose primary responsibility is to receive and a maintain an entities annual tax and business filings.
Who is the Agent
300
A customer is unable to answer all the questions associated with a Business Questionnaire
What is shouldn't open the account. Answers could affect how you proceed with opening an account.
300
The tax reported for on an IOLTA
What is the RI Bar Foundation
300
An additional form required when opening a Franchise Account
What is Franchise Agreement
300
Typically associated with a "DBA"
What is a Sole Proprietor
300
This individual serves as the primary contact for Washington Trust in relation to Business Online Banking access
Who is Super User
400
The new business is run through Chex Suite, IDV and OFAC and passes. The signers are run through IDV and OFAC and all pass.
Should. We only require the business, not the signers, to be run through Chex Suite and pass.
400
An Agent of Escrow account can be either
What is person or an organization
400
The documentation that shows a Non-Profit is an actual non-profit
What is a letter addressed to the Non-profit from the IRS or on IRS website
400
A cross between a proprietorship and corporation
What is LLC
400
Individuals who have access to Business Online Banking for an entity or group of entities, but are not able to contact Washington Trust for assistance with a password reset or other log in related issues
Who is Additional User
500
A DBA is listed on an account should the DBA be run through Chex Suite, IDV, and OFAC.
What is should. Banks often report on a DBA even though it is a fictitious entity
500
The tax reported for on a RI Girl Scout account
What is Girl Scouts of Southeastern New England
500
The generic document required for all business accounts
What is Business Questionnaire
500
The status of a "true" non-profit
What is 501c 3
500
The person who needs to sign a corporate resolution regardless of roles on an account