Your business relationship is important to us.
Our goal is to make the business account-opening process an efficient and enjoyable experience for you. All banks are subject to the rules under the Bank Secrecy Act which aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number), as well as identification documentation for:
- EACH individual that has 25% or more Beneficial Ownership in the Legal Entity; and,
- ONE individual that has Significant Managerial Control of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you are required to provide the above identifying information, along with a copy of the current Driver’s License for EACH identified individual. You are required to certify the information is true and accurate to the best of your knowledge. If you have any questions, please don’t hesitate to contact your local branch.
