Online Deposit Account Opening
Opening deposit accounts online is becoming a way of life instead of an exception.
In building your system, you will need not only your marketing people involved from the outset, but also your compliance team.
The question is how to comply with all the new account opening procedures using the online mechanism and meet examiner expectations and scrutiny. The process should engage your customer, but not put your financial institution in the regulatory hot seat.
We’ll examine the life cycle of this service from start to finish, and you’ll receive checklists and thoughts about how to begin offering this service or check your existing process.
- Adding this service to your BSA risk assessment
- CIP, CDD and other issues in identifying the account holder
- A checklist of how to accomplish the regulatory process online
- Special issues on withholding, nonresident aliens, and other IRS issues
- Federal disclosures and their delivery
- Funding of the account
- Signatures, ownership, access and signature card requirements
- FDIC, Patriot Act and other signage
- Putting the pieces together for compliance and risk management
Branch administration, CIP coordinators, Branch operations, Retail areas of your financial institution that are affected, BSA personnel, Compliance officers and Managers.
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.