Opening Deposit Accounts Online: CIP, CDD, W-9s, Signature Cards


Presented by:Deborah Crawford

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Opening deposit accounts online is now becoming a way of life instead of an exception.The design of your institution's online process can have significant impact on the customer experience, of course, but there's also a list of regulatory concerns that must be addressed.

In building your system, you will need not only your marketing people involved from the outset but also your compliance team. The question is how to address all the new required account opening procedures using the online mechanism and continue to meet examiner expectations and scrutiny. The process should engage your customer, but not put your financial institution in the regulatory hot seat.

The life cycle of online account opening will be examined from concept to delivery and evaluation during this two-hour presentation. Attendees will be provided with checklists and thoughts about how their institutions can begin offering this service or check its existing process.

We'll cover these and other important topics in the presentation:
  • Adding this service to your BSA risk assessment
  • CIP, CDD and other issues in identifying the accountholder
  • A Checklist of how to accomplish the regulatory process online
  • Special issues on withholding, nonresident aliens, and other IRS issues
  • Federal disclosures and their delivery
  • Funding of the account
  • Signatures, Ownership, access and signature card requirements
  • FDIC, Patriot Act and other signage
  • Putting the pieces together for compliance and risk management

Who should attend?
Branch Administration, CIP coordinators, branch operations, retail areas of the financial institution that are affected, Bank Secrecy Personnel, Compliance officers and managers

About the Speaker: Deborah Crawford is the President of gettechnical inc, a Baton Rouge-based firm, specializing in the education of banks and credit unions across the nation. Her 23+ years of banking and teaching experience began at Hibernia National Bank in New Orleans . She graduated from Louisiana State University with both her bachelor's and master’s degrees. Deborah's specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance and Individual Retirement Accounts.

This program was recorded in its entirety on August 2013. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_depositacct0813
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 17 June, 2013.

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