Do’s and Don’ts of Checks: How to Avoid Loss
Why do we make handling checks so hard? These simple do's and don'ts will keep your financial institution from losing money and creating chaos in the back office.
Checks are contracts and should be handled like any other legal document. There are reasons why we do not put business checks into personal accounts and why we do not give less cash on business accounts.
Learn the safe way to handle checks and be sure that you and your financial institution can be protected from loss on the negotiable instruments.
- The simplest rule about checks that will save your financial institutions thousands of dollars
- The connections between checks and account agreements-if you have not signed the signature card you cannot get the money
- Postdated, stale dated, erasures, alterations and more lessons we need to learn
- Why your institution needs to know about the negligence rule and the bank statement rule
- Should we check endorsements and send them back as “missing”?
- What should we do with checks for deceased people?
- Treasury checks, postal money orders and other special checks
- Why we absolutely do not give cash back, cash or deposit into personal accounts checks made payable to a business
Tellers, Head Tellers, Cashiers, Managers, Branch Operations, Officers who okay checks and deposit representatives who work with checks and accounts.
Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 20+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits
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