Conference 7.286::dcu

759.0. "DCU Policy: Government Tax Refund Checks" by ASE003::GRANSEWICZ (Candidate for DCU Director) Tue Feb 22 1994 11:40

	I saw this at the DCU branch and thought it was worth posting here
	for all to see since those tax refund checks will be rolling in
	soon.  Any questions would probably best be handled by the DCU
    	Info line.

	Phil

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				DCU Policy:
			Government Tax Refund Checks

	All government tax refund checks must be deposited.  Generally,
	the funds may be withdrawn immediately.

	Any third party government tax refund check must be endorsed
	"pay to the order of" and will be held.  The length of this hold
	is determined by the amount of the check.

	Endorsement
	All government checks must be properly endorsed by ALL PAYEES.
	Rapid Refund checks also require personal endorsement.  DCU's
	normal Funds Availability Policy applies to Rapid Refund checks.

	Signature Verification is required if:

	o A check is payable to an individual and is being deposited into
	  a joint account by someone other than the payee.

	o A check is payable to TWO PAYEES and is being deposited into
	  an individual (non-joint) account.

	o A check is payable to TWO PAYEES and is being deposited into
	  a joint account, and one of the payees is not joint on the account.

	o A check payable to an individual is being deposited by someone
	  other than  the payee into an account on which the payee is not
	  joint.


	Acceptable Signature Verification
	Documents include an original or a copy of a driver's license,
	a state I.D., a Digital badge, a military I.D., or a passport.