When you open accounts, you are tempted to accommodate accountholder wishes and needs in ways that create liability for your financial institution. Learn how to stay out of hot water and save your financial institution thousands of dollars in the future.
- When small favors for customers can cost the financial institution big liability
- Why you cannot give money to someone who has not signed the signature card
- Why checks have to match accounts
- When do you have to retype the signature card and when can it go with small changes
- When does it matter which disclosures you give on new accounts?
- Typos, whiteout, initialing and other issues that can cost the financial institution big time
- The impact of lack of signatures on your contracts and how that affects insurance
- When failure to read the contract and follow it can be significant—closing accounts, rights of offset, and other issues in the contract
- How to set up signers, power of attorney’s and other important fiduciary relationships so you won’t confuse ownership
- Common errors on ownership types and how that can create big problems on deceased accounts
- Account stylings and taxpayer identification numbers—at $50 per error, how many can you afford?
- And much much more…
Who Should Attend?
New Account Representatives, Personal Bankers, Branch Managers, Branch Operations, Training and Customer Service Representatives