To change the ownership for a consumer or business account, click one of the tabs below:
Consumer Account
To remove a current owner from a consumer Certificate of Deposit (CD) the client must close the CD and open a new CD with the new ownership information. Even if one signer has passed (if joint), a new CD is required to be opened. If the CD is not within the maturity period, the client is assessed applicable penalties.
See below for applicable procedures:
Business
To remove a current signer from a CD, do the following:
- Obtain documentation pertaining to the removal of the client from the account (for example: updated minutes/by-laws indicating officer removed, death certificate, letter on company letterhead requesting the removal of a signer from the CD account).
- In Xperience > SilverLake > StreamLine Platform Menu > Recall Existing Account from Core.
- On the Inquiry/Website Selection page, click OK.
- Search by client name, CIF or TIN.
- Click CIF Maintenance and delete client as required.
- Have the client verify all information on the Certificate of Deposit Receipt, Truth-In-Savings Disclosure, and signature card.
- Review the Business Purpose section of the signature card to verify account ownership.
- Have all signers present sign the signature card and verify the information in the Backup Withholding Certifications section, certifying the EIN of the business.
- Have the client verify all information on the resolution.
- Resolution must be signed by the secretary in the fields indicated, if one is designated in the legal documentation provided.
- Have the client complete the Powers Granted section indicating those designated within the legal documentation that have the authority to perform the specific acts.
- Place the documents not submitted via eSign with the daily work for imaging following the Document Imaging procedures.