Critical Issues on Share Accounts: The Share Account Interview for Business Entities

Learn what steps we must take to “know this customer” and their anticipated transactions in the account. How to ask tough questions without the customer feeling like they are being attacked or insulted. What do we “really” need to know to satisfy examiner expectations during the Share Account Interview? From money services businesses to privately held ATMs there are questions on business accounts that should be asked and answered. Learn how to open a business account and comply with customer due diligence expectations.

Covered Topics:

  • What is the purpose and source of the funds?
  • Who is opening this account and why?
  • How is this account going to be used by the customer?
  • What types of transactions will process through this account?
  • What is the geographic confines of the account?
  • Is the customer high risk?
  • And many more questions that should be asked and answered!

Who Should Attend?

Share Account Representatives, Member Service Representatives, Personal Bankers, Branch Managers, and Branch Operations, Share Compliance Officer and Staff and all Share personnel.