Webinar: Series: 2023 New Accounts Series

Begins May 2, 2023

NEW ACCOUNTS SERIES 

90-minute webinars – available live or on-demand

• Minor Accounts Options & Transactions
• Handling Trusts & Other Fiduciary Accounts
• Business Accounts: Setup, Management & Authority
• Opening NRA Accounts

Purchase webinars individually or save 10% with the series!

SERIES DETAILS

Right or wrong, your accountholders will most often form their opinions of your institution from the interactions they have while opening their new deposit accounts. Equip your frontline staff with the right tools to open any type of account, including minor accounts, trusts and other fiduciary accounts, business accounts, and nonresident alien accounts. Our 2023 New Accounts Series will keep your frontline staff trained and ready to make the right first impression.

Included Webinars:

Minor Accounts Options & Transactions

MAY 2, 2023 WEBINAR
PRESENTER: MARY-LOU HEIGHES

There are so many questions regarding minor accounts. Who can set one up? When are minors allowed to transact or prohibited from transacting? What about issuing ATM cards, debit cards, or checks? This webinar will explore the different types of minor accounts – UTMAs, informal or Totten trusts, accounts for minors with income from sports or entertainment, and more. In addition, it will tackle some of the stickier issues, such as whether to allow or require an adult as a joint accountholder, who has authority over a UTMA when a custodian dies, considerations for issuing access devices (cards and other EFT services), and what happens if the minor dies.

Handling Trusts & Other Fiduciary Accounts
JUL 12, 2023 WEBINAR
PRESENTER: DEBORAH CRAWFORD

Your accountholder, the federal government, or a court has named someone to legally act on their behalf. Now what? What can these caregivers and fiduciaries do? What supporting paperwork must each provide? This detailed program will review the setup, documentation, and legal issues involved in these high-risk accounts. You’ll learn how to style these accounts and get the signature card perfect – every time.

Business Accounts: Setup, Management & Authority
SEP 20, 2023 WEBINAR
PRESENTER: MARY-LOU HEIGHES

A lot goes into setting up and properly handling business accounts. This webinar will look at the various structures a business can take, the documentation required for each type, the documents necessary to determine authority over the account, as well as the BSA beneficial ownership requirements. Once opened, your institution is responsible for ensuring that transactions are handled correctly and monitored for unusual or suspicious activity. Oftentimes new or smaller businesses don’t clearly understand the distinction between business and personal transactions or the institution’s need to confirm the authority of persons attempting to transact on behalf of the business. This session will explore the entire process from onboarding to closing and everything in between. When would an institution need to request updated beneficial ownership or due diligence information? How should requests for changes in authorized signers be handled? What should be done when setting up accounts for multiple businesses operating under one tax ID number? Join us to learn the answers to these questions and more.

Opening NRA Accounts
NOV 29, 2023 WEBINAR
PRESENTER: DEBORAH CRAWFORD

Opening accounts for nonresident aliens (NRAs) and identifying the person with whom you are doing business has always been challenging. Since the USA PATRIOT Act Customer Identification Program (CIP) law passed, opening these accounts and obtaining the required documentation and identification is trickier than ever. This is also a BSA exam "hot spot" with the regulators because NRA accounts are considered high risk. What does the law say about identifying nonresident aliens? What type of identification is being used around the country to open accounts? What are the proper procedures for W-8 reporting? What role does the Office of Foreign Assets and Control (OFAC) play in your new accounts procedures? If you are pondering these questions or other NRA compliance issues, this session is a must.