Closing Deposit Accounts: Reasons, Rights, Responsibilities
How do you know when your financial institution should close a deposit account? Is your accountholder a victim or engaged in criminal activity? What documentation is required? Are your procedures up to snuff? What about closing IRA, HSA, and CESA accounts? Attend this webinar to get expert insight and guidance directly from deposit account specialist Debbie Crawford.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Develop procedures and documentation for closing accounts
- Distinguish closing accounts for AML and fraud reasons
- Review your terms and conditions for closing deposit relationships
- Understand situations where the relationship is closed or where one account is closed
- Comprehend more about closing services and leaving accounts open
- Review responsibilities when closing IRA, HSA, and CESA accounts
WEBINAR DETAILS
It’s getting more difficult to understand whether your accountholder is a victim or is part of a crime. Financial institutions have the right to close accounts – but with that right comes great responsibility. This webinar will examine the terms and conditions language to close accounts and relationships. It will also look at terminating services like debit cards and wires. Learn general procedures for writing checks to close accounts and developing letters to the accountholder. You will receive checklists and samples to begin the process of account closing.
WHO SHOULD ATTEND?
This informative session is designed for BSA/AML officers, security officers, compliance personnel, and deposit operations staff.
