Opening minor accounts comes with its complexities, however, these accountholders may become the next generation of loyal customers. This session will cover the three critical areas for opening minor accounts:
1) understanding how funds are owned, 2) how account opening documents should be executed, and 3) how access to the funds should be controlled during the life of the account. Many states have established laws for defining the legal ownership of accounts for minors, such as UTMA or UGMA (Uniform Transfers to Minors Act or Uniform Gifts to Minors Act). Although specific state statutes will not be covered, this session will address key challenges and offer practical solutions for opening minor accounts.
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session is designed for new accounts representatives, call service representatives, branch managers, assistant branch managers, deposit operations, BSA/CIP staff, and anyone who works with or manages new accounts.
If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.