TOPIC: Business Banking

Insurance Referrals - commercial customers

SVP at a bank ($2.9BUSA)
I am looking to see how others handle referral incentives to employees when referring a customer for commercial insurance to a third party arrangement/affiliate. 

We have one person at the bank that handles all commercial insurance referrals where they then connect the customer to our third party insurance company (no true affiliation, just a 3rd party agreement). Years ago, we had an examiner tell us for this type of referral, we have to limit the incentive to the referring employee because it falls under NDIP and insurance rules. We are ONLY referring commercial customers for commercial insurance (general liability, casualty, D&O etc).

Nowhere in any of the NDIP and insurance rules do I see commercial customers and commercial insurance falling within the scope. I think the examiners misunderstood our relationship (before I was here) and I am potentially going to give the OK for them to increase the referral incentive for employees.


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      Payment Strategist

      EVP at a bank ($433MUSA)
      With changes in payment systems moving rapidly, wondering if anyone has a payment strategist position, or someone within your bank that works on payment delivery systems, discovery,and implementation, for consumer and commercial customers?   If so, could I get a copy of the job description please.

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            6 digit check numbers flowing through to customer statement

            Manager at a bank ($205MUSA)
            We have a few public fund customers with 6 digit check numbers. These check numbers are not flowing all the way through to the customer's statement. Sometimes 4 check numbers come through, sometimes 1, super random. I understand we can't adjust anything coming in through the cash letter, but anyone have any luck correcting this through back counter or merchant capture avenues?

              MSB Security Deposit

              SVP at a bank ($3.3BUSA)
              Would like to get a poll as to what other banks may require to be on deposit when banking an MSB to cover possible chargebacks after or when a MSB relationship ends. We currently have several MSBs that we do not require any sort of deposit and are concerned that should we or the MSB close the relationship, how do we ensure we get covered for any possible chargebacks that may come after the accounts are all closed?


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