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A lot of banks and other financial institutes now require a lot more identification then before. I remember opening accounts with just my driver's license numbe
by smsm42 4y ago
A lot of banks and other financial institutes now require a lot more identification then before. I remember opening accounts with just my driver's license number or SSN, but now they ask for my photo and so on. Maybe KYC regulations are putting some pressure on them or something. I usually just drop the account if I see too many hurdles - I am fine with having to work to earn my money, but having to work to give my money to somebody is a bit too much for me.
- chrismcb 4y agoKYC is a legal requirement for the banking industry.
- smsm42 4y agoYes, there are KYC regulations - but they have been around for a while. And still banks didn't do it in an intrusive manner that some of the newer companies do it.
- onetokeoverthe 4y ago