Business Accounts:
Who is Authorized to Open, Close, Transact?

(90-minute webinar – recording also available)

Tuesday, March 23, 2021

12:00 PM Pacific       1:00 PM Mountain

2:00 PM Central       3:00 PM Eastern

What if someone wants to open or close a business account?  Do you know the questions to ask and the documentation to obtain?  What if an accountholder wants to deposit a check?  Do you know what to look for?  What if it’s payable to a person instead of the business?  This detail-driven webinar will answer those questions and more and also provide bountiful resources and tools. 

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

• Understand the different business types and documentation required for each
• Identify which taxpayer identification number to use for each type of entity
• Handle check deposits
• Explain the differences between authorized signers and accountholders
• Distinguish which regulations apply to business accounts

WEBINAR DETAILS

This webinar is designed to remove the guesswork and uncertainty surrounding opening business accounts and provide the tools necessary to handle such requests with confidence.  Proper due diligence, customer identification, and beneficial ownership requirements will be explained in detail. 

Thornier issues regarding business transactions will also be tackled, including handling checks payable to the business, whether checks payable to a natural person should be deposited into a business account (or vice versa), and what it takes to replace account signers.  And no business account training would be complete without covering Bank Secrecy Act (BSA) and fraud implications.  Businesses can be victims of identity theft, used for laundering money, or be engaged in other illicit activities.  Knowing the red flags for business accounts is critical to protecting your institution.

WHO SHOULD ATTEND?

This informative session is directed to new account representatives, call center staff, tellers, business development personnel, compliance staff, and auditors. 

TAKE-AWAY TOOLKIT

• Cheat sheet of opening requirements for business accounts: type of business, documents, and taxpayer identification numbers
• Model beneficial ownership form and diagrams/examples
• Internet resources for due diligence on business filings
• Business account due diligence model questionnaire
• Red flags for BSA and identity theft
• Employee training log
• Interactive quiz 

DON’T MISS THESE RELATED WEBINARS!

2021 New Accounts Series

     MEET THE PRESENTER - Mary-Lou Heighes, Compliance Plus, Inc.

Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000.  She provides compliance training for trade associations and financial institutions.  Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.

Involved with financial institutions since 1989, Mary-Lou has over 25 years’ compliance experience.  Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.

THREE REGISTRATION OPTIONS – WHAT YOU GET

1. Live Webinar Includes

• Unlimited connections within your institution to the Live Webinar
• Handout and Take-Away Toolkit
• Available on desktop, mobile & tablet
• Presenter’s contact info for follow-up 

2. Recorded Webinar Includes

• Recording of the Live Webinar
• Available two business days following Live date
• Handout and Take-Away Toolkit
• Available on desktop, mobile & tablet
• Free Digital Download, yours to keep
• Share link with anyone at your institution
• Presenter’s contact info for follow-up

3. Purchase the BOTH Option to receive all the benefits listed above! Full registration descriptions can be found here.

Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE