Why can I purchase a CD online from a bank, but I cannot purchase one from a local bank unless I personally make an appearance with a photo ID? My mother is moving out of state and wants to move some of her CDs as they become due, but she cannot set up a CD at a bank here in California unless she puts in an appearance although she can purchase from that same bank online?
Different banks have different policies. All banks have requirements to verify the identity of their customers, but the way they go about it can differ greatly. In most cases, if a potential customer is local, they'll want the highest degree of quality and that means a visit to the bank with multiple forms of ID.
Banks that open accounts over the internet take on more risk, and more work maintaining the accounts, because they haven't seen the picture ID with the person in front of them. It just depends on the bank, and how they have chosen to comply with the laws that regulate them.
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Different banks have different policies. All banks have requirements to verify the identity of their customers, but the way they go about it can differ greatly. In most cases, if a potential customer is local, they'll want the highest degree of quality and that means a visit to the bank with multiple forms of ID.