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Why should a bank, which does not have physical locations, get around KYC regulations? Or asked differently: How do they handle that?
by CaptainZapp 7y ago
Why should a bank, which does not have physical locations, get around KYC regulations?
Or asked differently: How do they handle that?
- vageli 7y ago> Why should a bank, which does not have physical locations, get around KYC regulations? > Or asked differently: How do they handle that? The same way the IRS handles it when you mail your taxes, they collect your social and some identifiers (banks tend to ask for driver's license, etc online).
- CaptainZapp 7y agoThanks. I'm a bit surprised living in Switzerland, which has an image for those very discreet, secretive banks. But you could not open an account with a local bank without showing your passport in person. Even when I ran my own company and had the corporate account with a specific bank I had to show up at a branch in person showing my passport in order to open a pension account with the same bank. This even applies for postal accounts. Mailing a scan of your driving license would never fly. I don't think it would even be accepted as identification if you show up in person.