Account Ownership
A representative payee AKA _____ for a Rep Payee account can make a withdrawal on an account.
Signer
If a check is made payable to John and Sally Doe who must sign the back of the check?
John and Sally Doe
A CTR is required for transactions over____?
10000.00
Would you complete a MIL on a non-customer? If so why?
No, because we do not offer sales to non-customers.
When is a hold notice provided to the customer?
At the time of the deposit unless the deposit is not made in person.
The _____ of an UTMA may make a withdrawal.
Custodian
If a check is made payable to Mickey or Minnie Mouse who should sign the back of the check?
Either Mickey or Minne
When should a CTR be completed?
at the time of the transaction but no later than the end of the day.
What is a monetary instrument that UCBI offers?
official checks
How long can a check be held on a case by case hold? How much is available?
2 days $225 1 day and balance 2 days
The owner of the funds in a Representative Payee account may not ____.
make a withdrawal
If a check is made out to Donald Duck Towing, how should the back be endorsed?
Donald Duck Towing or Deposit only stamp.
When completing a CTR involving a deposit on a joint account who must be included in the CTR?
both owners
Where are monetary instrument logs entered?
in integrated teller, if not they must be entered manually in verafin.
How long is a large deposit hold? How much is available?
7 days $225 1 day and $5300 in 2 days balance 7 days
A ____Trustee cannot make a withdrawal on a Trust account.
Successor
If a check is made out to UCBI and Mickey Mouse Lawn care, who signs the back of the check?
A representative from UCBI and Mickey Mouse Lawn Care.
When completing a CTR involving a withdrawal from a joint account who must be included in the CTR?
only the person conducting the transaction
What is the most important thing about filling out a MIL?
Get all required information and ensure accuracy in inputting information.
How long can you place a hold on new account deposit?
9 days on full amount
A _____cannot make a withdrawal on a Transfer to Minors Account.
Minor
If a check is made payable to cash should the back be endorsed? If so, how should the back be endorsed?
yes. The customer signs their name.
When completing a CTR on a business who must be listed as the conductor of the transaction?
The person presenting the deposit
When is a MIL log required?
When $3000 to $10000 in cash is used to purchase a monetary instrument.
Name one good reason to place a hold on a check.
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)