Learn the Do's and Don'ts 2023 - Learn the Do's and Don'ts of Opening Business Bank Accounts

Banking has come a long way from just opening business accounts in person. Banking today offers a plethora of business account types with diverse methods of conducting transactions. As a result, determining the authorized person to open, close, and transact business with different business entities can be daunting.
Running a successful business isn't easy, especially in the world of banking where there are countless different types of business accounts. It can be a real challenge to figure out who has the power to open, close, and transact business on behalf of any given organization.
Are you running your own business as a sole proprietor or steering a corporation toward success? Financial institutions should know how to open and document business bank accounts for both sole proprietorships and corporations. They must adhere to customer identification procedures, gather relevant information on signing privileges, and acquire necessary documentation for these clients.
WHY SHOULD YOU ATTEND?
By understanding the nuances of all the different types of business accounts and the rules that come with them, you'll not only avoid costly mistakes, but you'll be able to confidently navigate the world of business banking. From properly documenting accounts to ensuring that the right person has signing privileges, this webinar is a must-see for anyone who wants to run a successful business.
This webinar will provide an understanding of the different forms of business and the filing requirements for each form of business. Discussions will include proper handling of changing signatures on all the various business accounts plus the handling of checks with regard to these types of accounts.
AREA COVERED
Different types of business legal structures
General procedures for opening/initiating business bank accounts
Opening advanced business accounts
How to open accounts for businesses located outside the state
How to check customer information via the Secretary of State’s website
How do change signers for all different types of business accounts
Business accounts with multiple tiers with businesses that own businesses What are the CIP specifications?
Do's and don'ts of the use of whiteout
What happens when an owner dies on a business account?
Can a partner remove another partner?
How can we tell who is authorized to remove a signer from the new complicated limited liability company when they are all managing members?
LEARNING OBJECTIVES
Understanding of different types of legal business entities
Appropriate customer identification procedures
Appropriate customer documentation
Opening account procedure
Death of an Owner
WHO WILL BENEFIT?
Compliance Officers
New Account Opening Officers
Personal Bankers
Tellers
Branch Manager
Commercial Lender
Consumer Lender/Retail Banker
Customer Service Representative
New Accounts Representative
Private Banker
Senior Management
Small Business Lender
Training and Branch Administration