TOPIC: Business Accounts

Self-Directed Solo 401k

VP at a bank ($268MUSA)
We have a customer requesting a checking account for his self-directed 401k plan.  If you have opened this type of account did you have the customer sign a disclaimer to acknowledge that the bank is not responsible for anything connected to the 401k?   Does anyone have a copy of a disclaimer that they would be willing to share?

    BID ARTICLE: Community Financial Institutions And Social Change

    Over the past year, the values of tolerance and equality have increased in importance for the US population in general. We look at how some financial institutions are reviewing their values and communicating with their employees and customers in light of this shift in today’s article. Read Article

      Demonstration | Fraud Trends and Technology: Rebroadcast of Virtual Tour Session - Joins us July 8

      July 08 at 12:30 PM - 01:30 PM EST
      Fraud Trends and Technology
      Special Presentation: Rebroadcast of Virtual Tour Session

      Register Now


      As financial institutions face growing challenges from fraudsters and evolving schemes, Verafin is pleased to offer a timely rebroadcast of our Fraud Trends and Technology session from the 2020 Virtual Tour. With over two thousand registrants in May, this engaging event will keep you informed and ahead of the latest developments in fraud.

      “A great session, very informative… with great speakers.” – Attendee, 2020 Verafin Virtual Tour

      Join industry and technology experts as they discuss evolving scam scenarios, including Business Email Compromise and check schemes, COVID-19-related scams, industry warnings, and solutions to prevent losses.

      Please note that this rebroadcast of the Virtual Tour Session is not CAMS-accredited.

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        Pricing by NAICS/Industry

        VP at a bank ($292MUSA)
        Is anyone out there using NAICS/Industry as a variable for pricing?  I've heard of some pricing differently for owner occupied vs. non-owner occupied CRE, but am wondering what people are doing for C&I?

        Has anyone considered charging a higher interest rate on restaurants for example since they might be considered a higher risk, or a higher rate on a business that might require a higher rate of enhanced due diligence such as an all cash business?   

          Foreign Transaction Fees

          Manager at a bank ($83MUSA)
          Hello,

          We're in the middle of a vendor conversion and have decided to allow foreign debit card transactions to customers while traveling. Does anyone know where to find the fee guidelines under Mastercard? We need to re-disclose before enabling the service but can't find anything around fee thresholds. Any guidance is much appreciated!