Business Accounts: Advanced Issues
There are many types of business accounts with many different ways to do business at our financial institution's today.
What can be challenging is who is authorized to open, close and transact business at all the different avenues for business. We now bank businesses online, with debit cards and also remotely.
How do we set up these accounts and then change them as the businesses change? What happens when a partner dies? What happens when the sole proprietor dies? Can you keep the same EIN if a sole proprietorship incorporates? What if the LLC members are other businesses? How do they sign? And it goes on. Understanding authority on the different types of business accounts may keep you from making mistakes that can be costly to your organization.
- Changing signers on business accounts
- What happens when an owner dies on a business account?
- Can a business account have a Pay on Death designation?
- Can a partner remove another partner?
- How do we give debit cards on business accounts? Where is the liability?
- How do we run Customer Identification Programs on business accounts?
- Can we have a power of attorney on a business account?
- With the new complicated limited liability company, how can we tell who is authorized to remove who when they are all managing members?
- Resolutions, signature cards and endorsements
- NEW CDD Rules affect many business account issues
This informative session is Customer Service Representatives, Branch Managers, Lenders, Personal Bankers, Training and Branch Administration, Tellers who work for the commercial side.
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 27 years of combined teaching and banking experience.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
- Live Webinar which includes 5 Day On-Demand - $265
- Six Month On-Demand – $295
- Live plus Six Month On-Demand – $365
- CD-ROM (Includes Six Month On-Demand) – $325
- Premier (Includes all options) – $395
- Additional Locations – $75
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.