Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-15

In these days when banks are on
guard every minute against frauds the
Identification Of O new deposition u one
of the things requiring particular care.
Here Is how one Of our largest trust
companies acts In the matter:
Introduction by an old and valued
depositor. officers Of the institution and
prominent people, constitute suficient
identification, but very frequently q
stranger In the city, or somebody not
known TO US, would like TO open an &C.
count and then the process becomes
more involved. We inquire as to his
occupation. address, previous bank &C
counts, reason for selecting this insti-
tuition, references, etc. When no ether
means Of identification present them
selves we ssk his previous bank for an
opinion regarding him. Quite FREE
quently this Is our only means OF GET
ting acquainted. When all this iufor-
nation is complete and regular, we
secure signature cards which are filed
with the tellers where most Of this In
formation is noted. Various types CT
cards are useo for this purpose-in-
dividual. or one signature; joint, for
two signatures. and corporations and
are authorized to sign. Request for
statement and service charge agree
ment cards are also obtained. Our
service charge operates in q different
manner from that In the majority Of
the other banks that make this charge
in that it is based on the activity Of
the account with respect to the average
balance ana no; IL the account should
drop below a prescribed balance. we
allow aoout four cheeks to each 500
average balance. Our minimum charge
NNaeehArk ard fhNPk hfssk IL
supplied the customer and he Is in
troduced to one Of the tellers and II
JOSS .b,e to one Il the OhictTS.
Taken for Collection.
When checks are rendered as q hrst
deposit and the person Is O compare
tive stranger. the check Is entered for
collection and the proceeds credited
to the account, after which the Gus
toner is issued passbook and check
book.
A few suggestions about the services
in our other departments are usually
made in order to invite any additional
In Closing an account the usual
method Is to draw checks for the bal
ance-but where q balance remains In
an account Of . person who has died,
the procedure becomes more dimcult.
In case Of joint accounts the account
must be closed and opened in the sur
vivor's name, in order to get the de-
ceased's name on Of our books. Clos
ing q deceased's individual account re-
Quires an authority from the court APP
pointed an executor or administrator.
Must Knew An About 1t.
= Where q corporation or company
opens an account, we require papers
authorizing the proper ofncials to sign
checks or transact business with us.
Extracts from the by.laws showing the
duties Of the various Officers pertain
ing to bank account, and minutes
from the meeting showing the election
Of the oficers. These papers are uSu-
ally certified to by the secretary Of the
An individual acting a. agent or
trustee must flle papers disclosing his
principal when an account Is opened
in this manner.
All such authorities. powers Of at
torney. bonds Of indemnity, letters tes-
tamentary and other important papers
are filed in the authority file, which Is
under the control of the new account
department. It Il revised ut frequent
intervals to see that all papers are In
tact. -
A full report of the opening of an
account or the filing Of an authority Il
made on forms provided to the depart
ment of public relations. where the In
formation is placed on the central file,
which contains information on branch
accounts as well as main ONCE. Changes
of address, activities in other depart
ments and information pertinent to ac-
counts are sent on these special forms
for recording.
The A. b. A. Convention.
Possible consequences from the
growth Of group, chain and branch
banking and other rapid developments
in the field Of operating management
call for O thorough discussion by
bankers and this will be. provided at
the American Bankers Association
convention. which will be held ct San
Francisco, September 80 to October 8
it Is declared by Craig b. Hardwood.