TOPIC: Business Accounts

Business Account - Cashing Check

VP at a bank ($1.2BUSA)
Throwing this out there to see if all FIs are doing the same.

Customer(owner) only has a business account, no individual accounts.  Owner comes into to cash a check which is payable to "CASH".  Do you allow your branches to cash these items against the business account. 

  • VP at a bank ($80MUSA)
    We would require him to endorse it in the business name and deposit it in the account.  He could withdraw whenever he wanted to.  We would not exchange the check for cash.
    • SVP at a bank ($628MUSA)
      If he owns the business, is a signer on the account and endorses with his name... we would cash the check for our commercial customer.. if it becomes a habit we will certainly begin to ask questions, but if its his/her business and they are the on the account.. we would certainly allow a withdrawal for petty cash

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        Loan Origination Fee Discount Coupon

        Manager at a credit_union ($163MUSA)
        Looking for some guidance to make sure I don't overlook anything. Our business team would like to create a coupon for current business members that is good for a percent off the origination fee on any new commercial loans. I'm not sure if this would be a violation of any regulations or if there would need to be any kind of disclosures included with the message. Thoughts on if this would be ok to do and if there is anywhere specific I should look for more guidance?