Minor Accounts Options & Transactions
May 2, 2023
Live Webinar:
DateMay 2, 2023Duration90 minutes
12:00 PM PDT01:00 PM MDT
02:00 PM CDT03:00 PM EDT
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar:
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Do you have major questions about minor accounts?
Do you
know when and whether the minor can access the account? What are the different account types? How are BSA and CIP woven into the
process? What if the minor dies? Join us to learn the answer to these questions
and best practices on minor accounts.
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Differentiate account types for minors
- Understand how Uniform Transfers to Minors Act accounts operate
- Describe the requirements for setting up representative payee accounts involving minors
- Explain how the Bank Secrecy Act customer identification requirements apply to minors
- Determine whether minors have access to an account and how that may be achieved
WEBINAR DETAILS
There are so many questions regarding minor
accounts. Who can set one up? When are minors allowed to transact or
prohibited from transacting? What about
issuing ATM cards, debit cards, or checks?
This webinar will explore the different types of minor accounts – UTMAs,
informal or Totten trusts, accounts for minors with income from sports or
entertainment, and more. In addition, it
will tackle some of the stickier issues, such as whether to allow or require an
adult as a joint accountholder, who has authority over a UTMA when a custodian
dies, considerations for issuing access devices (cards and other EFT services),
and what happens if the minor dies.
WHO SHOULD ATTEND?
This informative session
is designed for new account representatives, tellers, branch managers, call
center representatives, compliance staff, and auditors.
TAKE-AWAY TOOLKIT
- Internet resource list
- Sample procedures for minor accounts
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Compliance Plus, Inc.
This Webinar Appears In
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