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Disaster C.P.R. – Contingency, Preparedness & Relief
Amegy Bank® and First Data Merchant Services LLC - Salute to Veterans
Regulatory Update: Beneficial Ownership Information Requirement
Enterprise Retirement Solutions: Recognized by Barron’s as One of the Top 50 Institutional Consultants in the Nation
Hurricane season is here! From June 1st to November 30th, all of us are advised to be vigilant and prepared for the possibility of an event involving high winds and heavy rainstorms.
To minimize possible business disruptions, please be encouraged to evaluate your banking requirements prior to an event. To assist in your contingency planning, we invite you to attend a webinar on June 27, 2018, from 9:30 a.m. – 10:30 a.m. CT. The session, entitled Disaster C.P.R., includes reminders and suggestions on preparing for hurricanes and other disastrous events.
As you make and review your plans, take into consideration your bank files such as ACH, Positive Pay, Wire Transfers, Cash Letters, and EDI. If your business is forced to be closed, give special attention to the effective date of your originated ACH transactions. If business disruption causes you to submit files on non-banking days, be aware those files will be processed at the open of business on the next business day. ACH entries that qualify as same-day transactions will be processed and billed as same-day items.
Consider any backup coverage that you may need to review Positive Pay and ACH Positive Pay transactions. Consider enrolling in Notification Alerts which can be delivered via text and/or email. Receive alerts when exceptions are loaded and thirty minutes before the end of the decision window.
If you have them, ensure your security token (device or software) is available and you know your wire transfer PIN. Ensure you have user logins and passwords that are needed for backup systems.
Ensure your banker has your contact information, including after-hours phone numbers so we can stay in touch during a disaster.
If you need to make special arrangements or ask questions prior to or during an event, please contact your Treasury Management Officer or Treasury Management Client Services Representative (Houston 713-235-8805, Dallas 214-754-9494, Central Texas 210-343-4419). Keep telephone numbers handy!
We wish you the best. Have a safe and successful hurricane season!
As a part of Amegy’s ongoing commitment to the community, Amegy Bank along with First Data Merchant Services LLC1 would like to salute veterans.
First Data is offering veteran business owners and military spouses attractive payment and business management solutions that are specifically designed for small businesses. They can take advantage of discounts, preferred rates, and free processing on Independence and Veterans Day.
We are proud of our veterans and thank them for their service. We salute them and their families!
If you or someone you know is interested in further details, please contact your Amegy Bank representative, send an e-mail to merchantservicesales@amegybank.com, or call 713-232-1585.
1. The First Data® name, logo and related trademarks and service marks are owned by First Data Corporation and are registered or used in the U.S. and many foreign countries. All trademarks, service marks and trade names referenced in this material are the property of their respective owners. Merchant Services products and services are provided by First Data Merchant Services LLC and not by Amegy Bank, a division of Zions Bancorporation, N.A, Member FDIC.
To strengthen the Bank Secrecy Act, the Beneficial Ownership regulatory ruling initiated by the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) went into effect on May 11, 2018.
The Beneficial Ownership ruling requires all U.S. financial institutions to collect from and retain certain information related to its commercial customers. The requirement for information is designed to understand who controls company funds and who benefits from the commercial activities of a legal-entity.
To comply with these legal requirements, all financial institutions, including Amegy Bank, are now required to ask business customers specific Beneficial Ownership questions as part of the new account opening process. The account opener representing the legal entity will need to be prepared to provide all relevant Beneficial Ownership Information (BOI) before the new account can be opened. Certain “trigger events” such as changing ownership will also require the collection of BOI.
To learn more about this regulatory change, click here.
If you have any questions or would like additional information, please contact your Amegy Bank representative.
Recently Deborah Lundin, manager of Enterprise Retirement Solutions (ERS), and her team were recognized in the Wall Street Journal as one of the top institutional consultants in the nation.
ERS Helps Businesses
ERS provides advice and processes that are designed to help businesses mitigate the fiduciary risks associated with sponsoring a 401(k) plan. Additionally, ERS works with companies to understand the specific needs of their organization and effectively deploy their benefit dollars.
ERS Helps Participants
The team’s true passion is helping people prepare for a successful retirement. Innovative plan design and education are powerful tools that have dramatically increased retirement savings and participation.
For more information on how ERS can help your business and employees, please reach out to Rob Jennings, Sales Manager, at rob.jennings@zionsbancorp.com or 281-297-7963.