A look at the fundamentals of the Health Savings Account, this product is offered at many financial institutions around the country and goes with a high deductible health plan. You will learn the eligibility requirements and how your account holder can benefit from this product.
During this program, we will discuss the four types of IRAs and the eligibility issues for each type of IRA. You will learn how to fit your customer into the type of IRA, he or she needs and how to open each one.
FDIC and NCUA Deposit Insurance
Your account holder is insured by the FDIC if you are a bank and NCUA if you are a credit union. These insurance rules can be complicated. Learn the different ownership types and rights and who can be insured and how.
Handling Deceased Accounts
When your customer dies, you will have to deal with the issues of rights at death. Who can get into the accounts and who does the money belong to after death? Learn more about rights at death and options for your customer’s family after death.
Placing a New Account Hold – Regulation CC
Not only are we required to disclose our funds availability, but Regulation CC asks that we place holds in a particular way. The new account hold is disclosed up front when we open accounts and is a hold we use in the first 30 days of a checking account life. Learn how to use the new accounts hold.
New Account Disclosures – Deposit Disclosures
Over the years, our Congress has passed bills which have asked financial institutions to disclose certain issues to customers. These are issues like our funds availability, how to resolve errors on debit cards, privacy, and how interest is calculated. We give these disclosures at New Accounts. Learn the importance of disclosures and how we can comply.
Opening Accounts for High-Risk Customers
What is a high-risk customer? What can we do as a financial institution to reduce the risk? Learn more about how to handle customers like money service businesses, nonresident aliens, and more. How we go the extra mile and bank these special account holders will be discussed during this program.
Opening Accounts for Formal Trust Accounts
A formal trust is the owner of property transferred to it by the grantors. We will see both revocable and irrevocable trust accounts. Some of these use SSN and some use EINs. Learn how to complete CIP and set up for trust accounts.
Opening Nonprofit Organization Accounts
Our corporations for profit and nonprofit are foundational business accounts for your financial institution. Learn about the paperwork, CIP, and taxpayer identification numbers on this important business account.
Opening For Profit and Not for Profit Corporation Accounts
Your account holder is insured by the FDIC if you are a bank and NCUA if you are a credit union. These insurance rules can be complicated. Learn the different ownership types and rights, and who can be insured and how.