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#1183443 - 05/14/09 03:24 PM CIP on Corporate Credit Cards
LICNew Offline
Junior Member
Joined: Dec 2006
Posts: 25
Do you require CIP for the individual requesting a corporate credit card under the umbrella of the corporation?

We do have a form where we request some basic information and the form has to be authorized by a designated person in the corporation. However we just got a case where the new cardholder is not a customer of us (in all prior cases that individual was already a customer so we already got the CIP information)

Thank you

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#1183535 - 05/14/09 04:18 PM Re: CIP on Corporate Credit Cards LICNew
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
When you issue a corporate credit card to an agent of the corporation, the corporation is your customer, not the individual. Whether or not you should require and verify identity information from the individual for CIP purposes will depend on your institution's board-approved CIP policy and any implementing procedures.
Last edited by John Burnett; 05/14/09 04:19 PM.
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