10 Critical Isues for Social security Representative Payee Accounts

Your institution opens accounts for social security representative payees.  Are you setting them up right?  Should you issue debit cards?  What money can go in and out of these accounts?  This important topic will be discussed in detail to help prevent your institution from making costly errors in the account opening process.  This webinar is designed for share account representatives and their managers.

Covered Topics

  • What is a representative payee
  • Can the account be joint?  Can the representative payee order a debit Card?
  • Do these have to be savings accounts?
  • What can the representative payee use the account for?
  • If the representative payee gets money for more than one person, how is account set up?
  • What if representative payee is a group home?
  • What if representative payee dies or resigns?
  • What happens if owner dies?
  • Can we give balances to beneficiary?
  • And many more questions and answers

Who Should Attend?

This webinar will benefit tellers, share account representatives, business bankers, personal bankers, branch managers, training and all front line personnel.