Understanding Signature Cards and Account Agreements: Account Titling, Ownership & Access

What would happen if you were called upon to give a deposition in court on a signature card for an account you opened thirteen years ago at an institution you no longer worked for?  What would you say when an attorney asked you to remember the accountholder's intentions when you opened that account?  In this informative program you will learn that your signature cards are a legacy that you leave the financial institution for many years to come.  How an account is set up can impact your accountholder's insurance coverage. It's critical that employees clearly understand ownership, titling and access under your signature card contract.  If you do not then the financial institution will have potential liability.  This is a "must attend" seminar in order to learn more about risks, liability and losses that can occur due to signature card contracts. And, most importantly, how to avoid these issues!

What You Will Learn:

  • Understanding the five major components of a signature card
  • What are the "big three" areas and what happens when they don't match on the card
  • Losses, liability and what went wrong in cases where institutions lost big money
  • Dealing with signature card changes: white out, crossed out, etc
  • Looking for key signature card issues: offset, how to close accounts, etc
  • How a signature card set-up can cause your accountholder to be uninsured
  • Required disclosures on a signature card
  • Rights of offset, arbitration, postdated, stale dated checks and other customer issues
  • Why altering contracts can cause big losses

Who Should Attend?

New Account Representatives, Branch managers, call centers, member service representatives, branch administration, compliance and all who work with signature cards.