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It'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.
by politician 15y ago
It'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.