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#1637121 - 12/08/11 07:43 PM Red Flags - Address Verification
pweiss Offline
100 Club
Joined: Mar 2011
Posts: 103
CA
Hello,

For new accounts, other than utility bills, does anyone have any other best practices for verifying one's address?

Thank you,
_________________________
Phil Weiss, CAMS

My opinions are my own and not that of my employer.

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Operations Compliance
#1637191 - 12/08/11 09:32 PM Re: Red Flags - Address Verification pweiss
doobydoobydoo Offline
Power Poster
doobydoobydoo
Joined: May 2007
Posts: 4,195
Basking in the Cool Weather
A friendly welcome letter works as an address verification and warm welcome to the bank.

If it comes back undeliverable or "No Known Person" theres your red flag....
_________________________
I'll be in the hospital bar.
Uh, you know there isn't a hospital bar, Mother.
Well, this is why people hate hospitals.

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#1637193 - 12/08/11 09:33 PM Re: Red Flags - Address Verification doobydoobydoo
doobydoobydoo Offline
Power Poster
doobydoobydoo
Joined: May 2007
Posts: 4,195
Basking in the Cool Weather
just make sure the banks return address is on the envelope
_________________________
I'll be in the hospital bar.
Uh, you know there isn't a hospital bar, Mother.
Well, this is why people hate hospitals.

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#1637195 - 12/08/11 09:24 PM Re: Red Flags - Address Verification doobydoobydoo
dickr Offline
Gold Star
dickr
Joined: Feb 2010
Posts: 356
Middlesex Cty NJ
...and no forwarding
_________________________
Lord,give me patience - and I want it NOW!!!

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#1643812 - 12/28/11 05:20 PM Re: Red Flags - Address Verification pweiss
Karen L Offline
100 Club
Joined: Jun 2009
Posts: 135
Somewhere over the rainbow...
how about paystub or property tax information from the county, W-2, final HUD, social security admin information or medicare/medicaid
_________________________
If only...

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#1644507 - 12/29/11 09:59 PM Re: Red Flags - Address Verification pweiss
Just Jean Offline
Platinum Poster
Joined: Feb 2002
Posts: 582
USA
We accept items that would lead a reasonable person to conclude that the address provided is the current residence. That can include utility bills, correspondence envelopes, leases, confirmation by landlord etc. The FDIC wrote us up for using the welcome letter as we have no proof that it was actually received by the accountholder.

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