Escheatment - Official Checks | For Bankers. From Bankers In reading the escheatment laws, it identifies that a Bank is expected to make every attempt to contact owner However, how are Official Checks handled Our customer purchases an Official Check but it is made payable to a third party (non-customer) There will be many instances in which t
HSA Escheatment | For Bankers. From Bankers Can Health Savings Accounts be escheated? I checked our states Manual for Reporting Unclaimed property but it was not clear Thank you!
ACH transactions and dormant accounts | For Bankers. From Bankers Is an ACH deposit or withdraw considered quot;customer initiated quot; as it relates to activity that can prevent a checking or savings account from going dormant? We have customers who have monthly direct deposits, but have not had any other account activity for more than a yea
Outstanding Money Orders | For Bankers. From Bankers We are presently having a FDIC Safety and Soundness Examination which includeds BSA They are looking at presently outstanding money orders There is one outstanding money order over 2 years old I am writing the customer now asking them to redeem this money order Can we require this