OPENING PERSONAL ACCOUNTS:
DOCUMENTATION, PROCEDURES & CIP

OVERVIEW
Our primary function at the frontline is to identify the person or entity attempting to open an account. This program will look at your current procedures to open and document accounts to make sure the procedures are protecting your bank. We will also review the state law on deposit accounts, including the forms of ownership-individual, joint, POD's, etc. The 400-plus page manual participants will receive is a valuable reference that includes a copy of the complete state law.

WHAT YOU WILL LEARN
CIP - required identification on all accounts
How to identify the person opening the account
SSN or EIN requirements
Types of ownership: individual, joint POD's, agents, powers of attorney
Special accounts: living trusts, estates, UTMA, social security representative payees
Power of Attorneys

WHO SHOULD ATTEND
New accounts representatives, customers service representatives, auditors, compliance personnel, risk managers, security officers, branch managers, and any other interested personnel.

TIME
3 hours