Checks – Endorsements, Fraud and Compliance Issues
Having an understanding of endorsements and handling checks is crucial to making sound check cashing decisions. A check is a unique type of contract where ownership can be transferred by way of the endorsement on the back of the item.
This program will look at who has the right to endorse the back of a check, and where is proper endorsement placement. We’ll also look at what happens if a check is not endorsed properly, when it may be best not to accept the check at all due to missing or problem endorsements, why we do not put business checks into personal accounts and why we do not give less cash on business accounts. Many “tricky” issues will be discussed, such as deceased account holders, business accounts, endorsements for minors, income tax check endorsements, trustee endorsements and endorsements by powers of attorney. Learn the safe way to handle checks and be sure that you and your financial institution can be protected from loss on the negotiable instruments. You won’t want to miss this session! The information provided will produce confidence and a thorough understanding of the legal issues of endorsements.
Who is the person entitled to endorse the check?
What is a valid endorsement?
Bearer versus Order Checks
Who is the holder of a check and what is the holder in due course?
Endorsements for minors, deceased parties, business accounts
Check cashing issues for business accounts
Endorsements on income tax checks
Trustee and power of attorney endorsements
The simplest rule about checks that will save your financial institutions thousands of dollars
The connections between checks and account agreements-if you have not signed the signature card you cannot get the money
Postdated, stale dated, erasures, alterations and more lessons we need to learn
Why your institution needs to know about the negligence rule and the bank statement rule
Should we check endorsements and send them back as “missing”?
Treasury checks, postal money orders and other special checks
Why we absolutely do not give cash back, cash or deposit into personal accounts checks made payable to a business
Who Should Attend?
This informative session is for tellers, head tellers, cashiers, managers, branch operations, bookkeeping, compliance officers who okay checks and deposit representatives who work with checks and accounts.
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 30+ years of combined teaching and banking experience.
“Live” Web connection – $265
6-month “OnDemand” website link only – $295
CD-ROM and e-materials only – $345
Live plus OnDemand website link – $365
Premier Package: Live, OnDemand link, and CD-ROM plus – $395