Cashiering and Account Transfers: Rapid Fire

What this video covers

• Why a Letter of Authorization (LOA) instructs while a medallion signature guarantee protects, and which serves which party
• How wires and Automated Clearing House (ACH) transfers move funds externally, while journals move cash or securities internally with matching registration requirements
• What a sweep does versus what reinvestment does: parking free credit balances in a money market or Federal Deposit Insurance Corporation (FDIC)-insured account, versus actively buying more securities
• How the Automated Customer Account Transfer Service (ACATS) differs from a non-ACATS partial transfer, and why alternate direct instructions are required for the latter
• Why a validated whole-account transfer freezes the account entirely: canceling open orders, accepting no new ones, and attaching all positions and balances without exception
• When a firm may interfere with a transfer request: only for a lien for money owed or another bona fide claim, never for a position dispute, balance dispute, or because a representative changed firms
• What a check blotter actually does, why kiting exploits timing differences between banks, and why extended check holds are prohibited