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You are saying know your customer requires the bank to keep a copy of your photo ID on file, and that it shows up on the teller's terminal when you go into a ba

You are saying know your customer requires the bank to keep a copy of your photo ID on file, and that it shows up on the teller's terminal when you go into a bank? That seems pretty insane to me that tellers would be able to look up any customer's photo ID, and it seems like a huge liability for the bank to keep those on file. I've had my primary checking account since the 80s, the photo would not look anything like me. When I opened my passbook savings in the 70s I didn't even have a photo ID, just a socical security card.

elric 2y ago
Banks are required to keep their KYC up to date. Regulations will obviously vary depending on where you are, but in general, banks have a fuckton of information about you, all alledgedly to prevent fraud (and terrorism).
mixmastamyk 2y ago
No big company has faced any big liability in the US that I’m aware of. Experian comes to mind. They originally sent a mail with that requirement, but changed it to the interview instead. I don’t know the internal policy. Presumably they thought they had enough from “public records” as they called it. I agree with the ‘insane’ moniker… but realized a few years back we’re not in Kansas anymore. Just went to a concert where you’re not allowed to attend w/o a internet connected terminal in your hand. ((boggle))