Check handling issues and stop payments still arise daily and can often confuse both accountholders and staff.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Determine how checks are to be endorsed and by whom
- Explain why an accountholder can’t place a stop payment on a cashier’s or teller’s check
- Identify issues associated with accepting or paying postdated and stale-dated checks
- Decide who can place a stop payment on a check
- Differentiate between the rules for check stop payments versus electronic funds transfers
An accountholder cannot possibly understand why a check was paid before the date on the face of the check. A payee is at your teller window with a check that is more than six months old. Is it still valid? John has a check in his hands payable to ACME Widgets and wants to deposit it into his personal account. And what about a check made payable to a deceased payee?
Check handling issues arise daily and are often a source of confusion for both accountholders and staff. The Uniform Commercial Code (UCC) articulates the rights and liabilities of each party to a transaction. Each state has adopted these laws in substantially similar form to provide guidance to financial institutions. This program will explain the most common (and not so common) issues and outline the rights and responsibilities of each party to a check. Join us to learn how to handle checks correctly and with confidence.
WHO SHOULD ATTEND?
This informative session is designed for tellers, financial services representatives, call center staff, back office staff handing check returns, compliance personnel, and auditors.
- Check endorsement spreadsheet
- Cheat sheet with rules for stop payments, stale-dated, and postdated checks
- Employee training log
- Interactive quiz
SPEAKER: Mary-Lou Heighes, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 20 years’ compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.