Don't take it Personal
This account ownership type allows either owner to withdraw funds and automatically transfers ownership to the surviving owner.
What is a Joint Account with Right of Survivorship?
This business type may use the owner's Social Security Number instead of an EIN.
What is a Sole Proprietorship or DBA?
This account is owned by the minor but controlled by the custodian.
What is a UTMA account?
This lending product provides a fixed amount with fixed monthly payments.
What is a Home Equity Loan?
What must a customer do before they can dispute a charge?
What is exhaust all options with the merchant?
Customers must wait this many days before qualifying for Overdraft Privilege.
What is 30 days?
This form identifies individuals who own or control certain business entities.
What is the Certification of Beneficial Ownership?
Before a Power of Attorney may transact, this department must approve the documentation.
What is the BSA Department?
This lending product lets customers borrow funds as needed over time.
What is a HELOC?
Every customer must be screened through this system before opening an account.
What is Verafin/OFAC screening?
This helps determine the customer's financial needs before recommending products.
What is a Conversation Worksheet?
Businesses are assigned this rating during account opening. This is also assigned to a new customer.
What is a Business Customer Risk Assessment (Low, Moderate, or High) or CIP Rating?
Estate accounts require these court-issued documents before opening.
What are Letters Testamentary or Letters of Administration from the Surrogates Court?
This formula is used to determine DTI.
What is the yearly income % 52 x 4?
This federal law requires customer identification procedures.
What is the USA PATRIOT Act?
This federal insurance covers eligible deposit accounts.
What is FDIC insurance?
This document authorizes individuals to open and transact on behalf of the business.
What is a Business Resolution (Resolution of Authority)?
This tax form is required for non-resident aliens.
What is the W-8BEN?
Before funding a loan, the bank requires identification, income verification, and this authorization.
What is credit authorization?
This regulation governs overdraft opt-in requirements for consumer debit card transactions.
What is Regulation E (Reg E)?
This is needed when a customer's mailing address is a PO Box.
What is a physical address?
Unlike consumers, businesses are not eligible for this overdraft feature linked to another deposit account.
What is Overdraft Protection (draw account)?
A trust account cannot be opened until this department reviews and approves the trust documents.
What is the BSA Department?
This referral process introduces customers directly to the lending department.
What is a Warm Referral?
This lending regulation helps ensure customers are treated fairly and prohibits deceptive practices.
What are Fair Lending and UDAAP?