I have employees in several states that I want to sign on one bank account. The bank is insisting that I provide personal information on the individuals. Do I have to comply with this request for DL and SSNs?
If that is what the banks requirements are, yes. Banks have a responsibility to know their customers, and even "convenience signers". This is a legal requirement for identification and not just an internal policy. Different banks may have different requirements on what they require, but the items you mention are common.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If that is what the banks requirements are, yes. Banks have a responsibility to know their customers, and even "convenience signers". This is a legal requirement for identification and not just an internal policy. Different banks may have different requirements on what they require, but the items you mention are common.
