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#1370422 - 04/07/10 03:14 PM Debit Cards & Foreign Individuals
Jessesgirl Offline
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Joined: Nov 2008
Posts: 54
There's No Place Like Texas!
This came up in a training session I did on CIP-ing foreign individuals yesterday and I was wondering how other banks are looking at this from a BSA perspective. Do you allow foreign individuals (with no SSN) to have a debit card? I can see that it could potentially pose more risk because of relationships/business interests those individuals may have with other foreign individuals/countries, but I'm not sure it's enough of a risk to close the door on allowing them to have a debit card?
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#1370993 - 04/07/10 10:33 PM Re: Debit Cards & Foreign Individuals Jessesgirl
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
You need to check your card issuer rules. VISA use to only allow debit cards to be issued to US Persons unless you signed a VISA International agreement.
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