ADVANCED ISSUES FOR OPENING DEPOSIT ACCOUNTS

9-3 p.m.

OVERVIEW:

This seminar explores some of the Advanced Issues for Opening Deposit Account.  It is designed for bankers with several years of experience in opening deposit accounts.  We will begin with a look at "Customer Due Diligence" in the Bank Secrecy Act.  From there move to the difficult issues with non resident aliens, bankruptcy accounts, successions.  We move to all the complex business types of accounts.  From multi-tiered business accounts to money service businesses, we will discuss the do's and don'ts of complex business account opening, changing and closing procedures.  You will learn what to do when businesses are sold, change ownership type and begin to cash checks and act as a money service business.

WHAT YOU WILL LEARN:

• BSA New Account Interview-What is "Customer Due Diligence"?
• Opening Accounts for nonresident aliens
• Bankruptcy accounts-Types of bankruptcy and how to open accounts
• Succession issues, usufruct accounts, funeral home accounts and other death issues
• Business Accounts issues such as debit cards, NOW accounts
• Multi-tiered business accounts
• 1031 Exchange Accounts
• Money Service Businesses

WHO SHOULD ATTEND:

Not designed for beginners.  It is for Customer Service Representatives, Personal Bankers, Branch Managers, Branch Administration, Training and Compliance Officers and Managers