Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wp-migrate-db domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /srv/app/gotoiba-dev/htdocs/web/wp-includes/functions.php on line 6121
Can we issue a debit card to an individual who is an authorized signer of a personal account, but not a joint account holder? Also, does it make a difference if the account is a personal account or a business account? – IBA Compliance Connection

Can we issue a debit card to an individual who is an authorized signer of a personal account, but not a joint account holder? Also, does it make a difference if the account is a personal account or a business account?

by

Yes, you can issue a debit card to an authorized signor of a personal account, provided that doing so is not inconsistent with your bank’s policies and procedures. Since the person already has access to the funds in the account as an authorized signor, the debit card is merely another means for him or her to access the account.

Business accounts can raise different issues, but the answer is basically the same. A corporate customer may want debit cards issued to individuals who are not authorized to sign checks on the account. In other words, authorized signors and debit card holders are not necessarily coextensive.