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Banking has come a long way from just opening business accounts in person. Banking today offers a plethora of business account types with diverse methods of conducting transactions. As a result, determining the authorized person to open, close, and transact business with different business entities can be daunting. 

Running a successful business isn't easy, especially in the world of banking where there are countless different types of business accounts. It can be a real challenge to figure out who has the power to open, close, and transact business on behalf of any given organization. 

Are you running your own business as a sole proprietor or steering a corporation toward success? Financial institutions should know how to open and document business bank accounts for both sole proprietorships and corporations. They must adhere to customer identification procedures, gather relevant information on signing privileges, and acquire necessary documentation for these clients.

  • Understanding of different types of legal business entities
  • Appropriate customer identification procedures
  • Appropriate customer documentation
  • Opening account procedure
  • Death of an Owner

  • Different types of business legal structures
  • General procedures for opening/initiating business bank accounts
  • Opening advanced business accounts
  • How to open accounts for businesses located outside the state
  • How to check customer information via the Secretary of State’s website
  • How do change signers for all different types of business accounts
  • Business accounts with multiple tiers with businesses that own businesses What are the CIP specifications? 
  • Do's and don'ts of the use of whiteout
  • What happens when an owner dies on a business account?
  • Can a partner remove another partner?
  • How can we tell who is authorized to remove a signer from the new complicated limited liability company when they are all managing members?

By understanding the nuances of all the different types of business accounts and the rules that come with them, you'll not only avoid costly mistakes, but you'll be able to confidently navigate the world of business banking. From properly documenting accounts to ensuring that the right person has signing privileges, this webinar is a must-see for anyone who wants to run a successful business.

This webinar will provide an understanding of the different forms of business and the filing requirements for each form of business. Discussions will include proper handling of changing signatures on all the various business accounts plus the handling of checks with regard to these types of accounts.

  • Compliance Officers
  • New Account Opening Officers
  • Personal Bankers
  • Tellers
  • Branch Manager
  • Commercial Lender
  • Consumer Lender/Retail Banker
  • Customer Service Representative
  • New Accounts Representative
  • Private Banker
  • Senior Management
  • Small Business Lender
  • Training and Branch Administration 

Justin brings over 20 years of wide-ranging experience in compliance, training, and regulation in the financial services sector. Most recently, he served as Head of Compliance Training at Bank of China, where he led the compliance training function and created and monitored the annual training plan through a thorough training needs analysis. Previously, he served as Macquarie Group’s Head of Americas Compliance Training and J.P. Morgan Chase’s compliance training manager. He also worked for FINRA, a US regulator, where he created Examiner University to train examiners on how to perform their function.

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