Minor Accounts: Ownership, CIP, Access, Changes & Transactions

Minor accountholders are great, and yet it is sometimes hard to know what can and can’t be done on their accounts. It can be confusing when minors have authority to transact business in a financial institution because in many states a minor is not responsible for their actions on deposit contracts. During this program you will learn how to answer adults’ questions on how to set up accounts for children, grandchildren, college, and more.

This program will review the basic legal ownerships that may be offered to minor accountholders, including the dos and don’ts of account card set up for minors. You’ll learn how to complete CIP and CDD procedures and be challenged to look at old practices, how to handle checks, when to give access, how to transition them into adult accounts, and so much more in this information-packed program. Don’t miss this A to Z on minor accounts.

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