Mostly fill in the blank #8

When opening a business account one good question you should potentially ask is, how does the business get paid by their customers and does the business take credit and debit cards as payment, and do they foresee a need to be able to do that. TRUE OR FALSE

Which of the following is NOT an acceptable ID to open a New Account?

• In- State Colorado Driver's License

• Out of State Driver's License

• Mexico Matricular ID

• Out of State ID Card

If an individual has a credit score of 550 or less you should obtain what kind of additional information?

• CHEX Systems Inqury

• The individual's blood type

• A retina scan of the individual

• a hard hit credit inquiry through credit profile display

For a 3rd party check of $1,000 or more proof of prior endorsement is required. Supervisor or more senior approval is required prior to completing transaction. TRUE OR FALSE

• TRUE OR FALSE -The following are acceptable forms of ID

• Current in-state driver's license, including temporary licenses issued as part of a renewal process and presented with the license being replaced.

• Current in-state driver's permit with photograph.

• Current official passport with current photograph.

• Current U.S. Passport Card

• Current federal ID cards, such as those for employees of the military, Secret Service, or IRS.

• Current out-of-state driver's license.

• Current in-state ID card, including temporary in-state ID cards issued as part of a renewal process

• Current Mexican Matricula Consular Identification card.

• Current Guatemalan Consular Identification card.

• Permanent Resident Card with photograph (also known as a Green Card or a Resident Alien ID ).

If a FOREIGN customer presents with a FOREIGN PASSPORT for Identifcation they must have a SSN or TAX ID number as well- TRUE OR FALSE

A parent/guardian must provide the social security number information for a child if they wish to open a savings account for their child- TRUE OR FALSE?

A Business must be registered with the Colorado Secretary of State before a business account can be opened?

TRUE OR FALSE

A customer must know if their busiess is an LLC or Single Member LLC before they open an account- FirstBank cannot provide them with guidance on this topic- TRUE OR FALSE

If a business will consistently run over 150 items through the account every month they will receive the $12 monthly service fee regardess of the balance that is kept in the account as well as other small charges. However, there may be some ways to offset these charges. That is why it is important to understand how business accounts work so you can explain the information to your customers- TRUE or FALSE