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#114745 - 09/15/03 05:47 PM deposit account denials
HubbaBubba Offline
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Joined: Sep 2002
Posts: 311
Due to the fact that we may be denying more deposit account customers, I need some clarification please.

If we deny someone from opening a deposit account due to the fact that we feel they have not proven their identity to our satisfaction (no credit report was pulled or no Chex Systems was accessed), do we need to give they a written denial?

Thanks!

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#114746 - 09/15/03 06:48 PM Re: deposit account denials
AMXSteve Offline
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Joined: Jun 2001
Posts: 75
Wilmington, OH, USA
We plan on using a written denial if we do not feel we can adequately verify a potential customer's identity. Bankers Systems has created a form called "Notice of Incompleteness" specifically for this purpose. This is the form we plan to use. I believe we're going to order it this week.
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#114747 - 09/16/03 04:07 AM Re: deposit account denials
Andy_Z Offline
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"Do we need" based on a regulatory requirement, no.

Would it be a good idea if you want to salvage a request for a new account, perhaps.
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#114748 - 09/16/03 12:30 PM Re: deposit account denials
Elwood P. Dowd Offline
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Quote:

a form called "Notice of Incompleteness"




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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#114749 - 09/16/03 04:53 PM Re: deposit account denials
AMXSteve Offline
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Wilmington, OH, USA
Sometimes my spelling is better than my typing.
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#114750 - 09/16/03 04:54 PM Re: deposit account denials
Andy_Z Offline
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Quote:

Sometimes my spelling is better than my typing.




That is OK. Most times both of mine stink.
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#114751 - 09/16/03 05:47 PM Re: deposit account denials
Elwood P. Dowd Offline
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Elwood P. Dowd
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Steve,
wasn't a comment on your spelling, only the concept behind the form. Well, I guess somebody needs to make money on this deal.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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