Opening New Accounts I – Consumer Accounts
“It’s just a little new account job, right?” If that’s the case, why do we feel like we are acting as “estate planners” instead of “account opening professionals”?
The main reason is, in many states, the signature card and account agreement could possibly override formal documents created outside of the financial institution – for example, wills and trusts. It is imperative that we understand the consequences of “choosing” the correct ownership box to be consistent with the accountholder’s wishes – especially at death. In this session, we cover the definition of the ownership boxes for consumer and trust accounts including: titles, ownership, TIN and authorized signers for that ownership and death payouts.
It is highly recommended you have a copy of your financial institution’s account agreement nearby to follow along during the session.
This is Part 1 of a three-part series. The second session is being held on Wednesday, April 23 and the third session on Thursday, May 22. You can attend all sessions or just one.
- Understanding Signature Card Contracts and Proper Account Opening Procedures for:
- Individual and Single Party Accounts
- Joint and Multiple Party Accounts with and without Right of Survivorship
- Authorized Signers or Agents on Personal Accounts
- Power of Attorneys – In House Form and Out of House Form
- Minor accounts – including the Uniform Transfer to Minors Act
All customer contact personnel, supervisors and officers whose responsibilities include opening or managing the new account area. Excellent for supervisors or officers who have authority to “waive” documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
Patrice M. Konarik, is president and founder of Sunwest Training Corp. located in the Texas Hill Country near San Antonio, Texas. With over 30 years experience in the financial industry, Patrice has focused her expertise on the retirement and new account areas and is currently providing live training and webinars on these subjects on a nationwide basis.
She has a BS in Management Science from New York’s Binghamton University. Many state banking associations and other organizations use her as their main source for training on these complicated topics. Patrice’s upbeat personality and former banking experience easily encourages interaction and questions during the training sessions.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits.
Either Live or 6-Month On-Demand Webinar: $255
Both Live and 6-Month On-Demand Webinar: $355
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.