How to name beneficiaries and fund a trust at Dollar Bank

POD and ITF designations are recorded on the Signature Card and are accepted only "to the extent permitted by law," so what is available can differ across Dollar Bank's four states (PA, OH, VA, MD).¹

Start Smart Checking and Start Smart Savings are youth accounts co-owned with a parent or guardian. They pass by joint survivorship rather than by a POD or ITF designation.¹

A trust can be named as beneficiary. The bank may review the trust agreement and may charge a service fee for the review.¹

A trust may be named as an IRA beneficiary.¹

The bank reserves the right to limit the number of beneficiaries on an account, in line with its procedures and applicable law.²

For a trust named as beneficiary, the bank may require notarized signatures or other proof of the trust document's authenticity and continued effectiveness.¹

For payable-on-death accounts. Completed by the account owner, at a branch. Provided at a branch.¹

For IRAs. Sent by the institution on request.¹

Sent by the institution on request.¹

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During the owner's lifetime, "you may make withdrawals and perform other transactions and all interest earned on your account shall be reported to the social security number designated on the Signature Card."¹

The owner "may close your account by withdrawing all of the funds and/or may remove beneficiaries at any time."¹

IRA accounts cannot be retitled to a trust.¹

A trust can open a new account in the name of the trust, or an existing account can be retitled to the trust.¹

The bank reserves the right to review trust agreements and fiduciary documents and may charge a service fee for document review.¹

The bank may review the trust document and require notarized proof of trustee authority.¹

The trustees must be designated as such on the account's Signature Card.¹