Skip to content
BOL Conferences
Thread Options
#1800731 - 04/02/13 09:53 PM Signature Card
Dodge Offline
Gold Star
Joined: Mar 2010
Posts: 268
I'm new to BSA and I want to verify if it is required to to state the customer initial deposit and source of deposit on the customer's signature card when opening a new account. Also, there is a field for Employer does it need to be include on the signature card for BSA.

After reading the customer due diligence section in FFIEC Manual, I would think so but I would appreciate verification.

Return to Top
BSA/AML/CIP/OFAC Forum
#1800741 - 04/02/13 10:40 PM Re: Signature Card Dodge
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
Required - no. Part of your customer due diligence process, that is really up to you.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1800766 - 04/03/13 10:33 AM Re: Signature Card Dodge
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Required: No. However, if your bank purchases forms that request information and employees can decide not to obtain the information they elicit I think you could and should expect regulatory criticism. Either collect the information or change the form.
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top

Moderator:  Andy_Z