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Check Handling for Tellers - 2016
Mary Beth Guard and John Burnett Recorded on October 4, 2016
Were you a teller? Do you remember how much there was to learn? Did you have times when you really weren't sure you knew the right way to handle a particular check? Did you sometimes feel you were in over your head? Mary Beth Guard and John Burnett have heard all the horror stories (and experienced some) that can make a teller's head swim. In their two-hour presentation, Mary Beth and John will discuss many of the situations your tellers face every day, and provide the legal framework for the choices they must make on behalf of your institution and its customers.
They'll cover -
The minimum requirements of a check
How to determine the amount for which a check is properly payable
Who needs to indorse various types of checks and how they should do it
Tips for spotting alterations and counterfeits
What the different forms of indorsement are (blank, special, restrictive, anomalous), what they mean, and which should be used when
How to identify the proper payee of a check
How to tell if a check with multiple payees is payable jointly, or payable alternatively
The special rule on U.S. Postal Money Orders
How to spot a stale-dated check and what the consequences might be of accepting it
How a postdated check should be handled
How stop payments work
Why special precautions should be taken when cashing checks for noncustomer payees
Deposits to closed accounts - why it's almost never a good idea
Who is a "fiduciary," when you would be on notice of a breach of fiduciary duty, and why it matters.
What to watch out for in a split deposit transaction
Things to watch out for with powers of attorney
Special rules for U.S. Treasury checks
Special handling suggestions for official bank checks
When it's appropriate for checks to be payable to your institution, and when it's not
Whether it's ever a good idea to cash checks payable to businesses
The challenges involved in accepting third-party checks
How to identify foreign checks and what to do about them
Who Should Attend:
Tellers and teller supervisors or trainers
Mary Beth Guard and John Burnett
Mary Beth Guard currently serves as Executive Editor of BankersOnline.com, CEO of Glia Group, Inc. and Executive Editor of BankingQuestions.com. Since graduating from law school in 1980, Mary Beth has focused her work almost exclusively on the banking industry. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.
John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking, and is also a graduate of the BAIs and the Massachusetts Banker Associations Schools of Banking.
John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company.
John joined Glia Group, Inc. and the BankersOnline.com team in June, 2004. He is a frequent presenter of BOL Learning Connect webinars, and at BOL Conferences events.
He was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and a former member of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force as Regulation DD was being written, and has served on several ABA and Massachusetts Bankers seminar panels.