10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Accepting items for deposit is just routine – until something goes wrong. When sending deposited items through for payment, your institution is warranting that it gave the funds to the payee. Who is the item really payable to? What about restrictive endorsements? Who can endorse when there are multiple payees? What if no one endorses it, can it still be deposited? The answers to these questions depend on the facts and circumstances of each item and the parties involved, including the depository institution. This webinar will outline the processes to avoid loss, mitigate risk, and examine the rights and liabilities of the parties involved in acceptance, payment, and enforcement of negotiable instruments.
Attendance certificate provided to self-report CE credits.
- Institution’s rights and responsibilities when accepting items payable to natural persons, entities, and fiduciaries
- When an item should be rejected due to insufficient or unauthorized endorsement
- Laws that affect payment of negotiable instruments
- Recognizing when an item should not be paid
- When can stop payments be placed and by whom?
- Risks associated with certain types of checks
- How understanding check hold options can minimize risk exposure
- TAKE-AWAY TOOLKIT
- Chart of proper payees and endorsements
- Quick reference guide for stop payment, post-dated, and stale-dated items
- Employee training log
- Quiz to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for staff who handle negotiable instruments, including tellers, service representatives, back office personnel responsible for check returns, call center employees, staff handling ATM and night depositories, compliance personnel, auditors, and risk management staff.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.