Bank Accounts: Required Identification
Does federal law permit the bank to request my fingerprint or thumbprint to cash a check?
Federal banking laws and regulations do not prohibit banks from requesting that you provide a fingerprint or thumbprint to cash a check. Banks may use fingerprinting as a security measure and a way to combat fraud.
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I want to open a new account. What type(s) of identification do I have to present to the bank?
Banks are required by law to have a customer identification program that includes performing due diligence (also called Know Your Customer) in creating new accounts by collecting certain information from the applicant. An […]
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The bank requires two forms of picture identification to open an account. Can it do that?
Yes. Banks are required by law to have a customer identification program that includes documenting certain identifying information about customers.
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An unsolicited bank contacted me (by phone or email) and asked for personal information to open an account. I had not inquired about opening an account, but I provided the information. What should I do?
If you provided any personal or financial information, consider closing any accounts that may be at risk. We also recommend that you contact one of the three major credit reporting agencies listed below. Ask that a fraud […]
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Can a bank require a beneficiary to provide a Social Security number?
Yes. Banks may require the beneficiary to provide a Social Security number (SSN) for monetary transactions. This requirement is intended to verify that funds are distributed to the correct designated individual(s) listed […]
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Can the bank require me to provide my Social Security number?
Yes, in certain circumstances. A bank may be required to obtain an identification number for several kinds of banking-related activities, including: When opening an account For monetary (deposit and loan) […]
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