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#1985001 - 12/23/14 09:57 PM CIP for accounts opened by phone
charlied Offline
Member
Joined: Oct 2009
Posts: 94
TN
Good Afternoon All,

Today I was asked how we might perform CIP for accounts opened by telephone in locations where we do not have a physical branch. Does anyone here open accounts via telephone and if so how do you perform CIP? I am particularly interested in FDIC regulated banks that do this, but all input is welcome.

I realize I haven't provided very much information at this point, but this is all the information I currently have. I will add details if/when I get them.

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#1985099 - 12/24/14 03:41 PM Re: CIP for accounts opened by phone charlied
ACBbank Online
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,344
New York City
Most banks that open accounts online or over the phone conduct non-doc identity verification. Usually a 3rd party vendor is brought in and the CIP info which is obtained over the phone is then screened against a database of the vendor's and based on the results, a score will be provided which indicates if the account should be opened or not.
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