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TBH it’s not the banks fault. Our governments stance on taxes, terrorism and drugs has caused this. Due to the need to verify citizenship, verify that you aren’
by Trisell 8y ago
TBH it’s not the banks fault. Our governments stance on taxes, terrorism and drugs has caused this. Due to the need to verify citizenship, verify that you aren’t a terrorist and verify that you are a drug lord laundering money the banks are forced to jump through all of these hoops to give you an account.
- thaumasiotes 8y ago> the need to verify citizenship, verify that you aren’t a terrorist and verify that you are a drug lord laundering money One day these requirements are going to get out of hand. :D
- Trisell 8y agoHeh. I’m not saying they are or aren’t out of control. My point is that when the government creates all of the requirements, and the onus is on the banks to verify it all. At risk of penalties from the government. Then you get these kind of stories. People see it as overkill. The banks see it as CYA.
- thaumasiotes 8y agoI basically agree with you on the issue; I was just making a cheap joke about the supposed requirement for the bank to verify that you are [as opposed to aren't] a drug lord.
- techsupporter 8y agoI mean, I get that but why is it not a concern when I want to borrow money? Or, even more relevant, when my wife wants to borrow money? She has multiple credit cards with tens of thousands of dollars in borrowing power in her own name and has had and paid off two loans, all while not having a telephone bill in her own name or even being on the deeds to the properties we've lived in together. I see it less as CYA and more as "we can make money off of you so the requirements are relaxed because we're making money"--that is, lending money that she'll presumably pay interest to borrow--versus "oh shit you want to put $1,000 in an account and our bank pay you better do the fifteenth degree."