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> It's now rare for most people to interact with bank staff beyond opening an account or taking out a loan. Loans I wouldn't know about, but opening accounts a
by nknight 15y ago
> It's now rare for most people to interact with bank staff beyond opening an account or taking out a loan.
Loans I wouldn't know about, but opening accounts at major banks without entering a bank branch is generally quite easy, particularly if you can afford to wait a few days for physical mail to go back and forth. One hopes that particular anachronism becomes increasingly rare, too.
- politician 15y agoIt's surprising that you can open a customer bank account over mail given the Know-Your-Customer (KYC) laws which I thought included a physical presence check. Something to Google on a rainy day...
- nknight 15y agoI've never heard of a physical presence check being required, and I've opened a couple accounts "remotely" in the last five years with institutions I'd never done business with before. They practically demand your life history, but not that you walk into a branch. Physical presence checks would simply put some of them out of business. There are national banks with no or very few physical branches.
- rmc 15y agoIt could be gotten rid of, but remember that 99% of the population will probably open, what, 5 bank accounts in their life? Whereas 90% of the population probably us their ATM card 5+ times per month.