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Opening Minor Accounts

We love our minor accountholders and yet…it is sometimes hard to know what we can do and what we can’t do for those who are under age at our bank. It is always disturbing when minors have authority to transact business in the bank because in many states the minor is not responsible for his or her actions on deposit contracts.

Upcoming
Thursday, September 8th, 2022
10:00 am - 11:30 am
Presented by Deborah Crawford
$195.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Customer Service
  • Deposit Accounts
  • Teller
  • Branch Manager
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Private Banker
  • Teller
  • Trainer

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During this program, you will learn how to answer your adult account holder’s questions on how to set up accounts for grandchildren, for college, and other reasons to set up minor accounts. We will review the basic legal ownerships you may offer for your minor customers. We will also talk about how to transition them into adult accounts. We will look at do’s and dont's of account card set up for minors.

You will be challenged to look at old practices, how to handle checks, when to give access and so much more in this information packed program. You won’t want to miss this A to Z on minor accounts.

What You'll Learn

  • All the types of legal ownership for Minors: UTMA, CESA, Multiple Party Accounts, Minors alone in some states
  • What happens and the liability when you put minors in checking accounts with debit cards
  • UTMA, Social Security Accounts, & Guardianship Accounts
  • Checks made payable to him or herself
  • Old stylings like “minor by” that can give big headaches
  • Signatures on minor accounts
  • If the adult or minor passes away
  • Minors taking over the account at a certain age
  • Hotspots and troubling issues when you open accounts for minors

Who Should Attend

Customer service representatives, personal bankers, call center representatives, branch managers, tellers, branch operations, and training.


Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.