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Risks & Precautions for Endorsements & Other Negotiable Instruments

Before taking checks for deposit, there are certain things staff must know – such as whether the check is properly payable when presented, who is allowed to endorse it (especially if it is not payable to a natural person), whether the check can be deposited into the account intended, how to endorse checks with missing endorsements, etc. This webinar will address all of the issues surrounding the institution and depositor’s liability regarding negotiable instruments. It will cover proper payees, stop payments, the difference between cashier’s and teller’s checks, permissible check holds, liability for incomplete instruments, unauthorized signatures, forged endorsements, and everything in between.

Recorded July 26, 2016

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Where should a check payable to a trust or estate be deposited?
  • Are we allowed to place a longer hold on a check if we suspect it may be a fraudulent item?
  • Who bears the loss on an item with a forged endorsement?  What about an item with a forged signature?
  • Is there any liability for putting a Social Security check into the representative payee’s personal account?
  • What are the requirements for accepting a stop payment?

  • TAKE-AWAY TOOLKIT
    • Chart of proper endorsements
    • Check hold cheat sheet
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is intended for tellers, teller supervisors, fraud department staff, compliance professionals, and anyone handling consumer complaints regarding check handling.

PLEASE NOTE:  Webinar content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER