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#2132532 - 05/31/17 06:20 PM Substantive Discrepancy?
BSA Aficionada Offline
Member
Joined: Sep 2015
Posts: 87
Customer is seeking to establish an account in the U.S. as an NRA. They present a foreign passport from Nepal and a U.S. Visa issued in Toronto and verbally states that their foreign permanent address is in Canada. Does a substantive discrepancy exist due to address, thereby requiring proof-of-residency to resolve it?

I may be overthinking this.

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#2132540 - 05/31/17 06:40 PM Re: Substantive Discrepancy? BSA Aficionada
Daisy Doodle Offline
Diamond Poster
Joined: Feb 2014
Posts: 1,030
Southern U.S.
What's he doing in the U.S.? Why so many moves?

I've called an embassy once before when I had an unusual situation. It took some days for them to get back to me but they did. It seems like he should have the Canadian equivalent of the green card. Which I know nothing about. But there are lots of images of them online.

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#2132553 - 05/31/17 07:14 PM Re: Substantive Discrepancy? BSA Aficionada
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,565
The Country
Sounds like a mess just waiting to happen. Passport from Nepal, permanent address in Canada, and a U.S. Visa issued in Canada.....interesting.

Oh, and now they want to open an account in the USA..... No thanks, I'll pass.
Last edited by RockChucker, CAMS; 05/31/17 07:15 PM.
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#2133334 - 06/07/17 03:36 PM Re: Substantive Discrepancy? BSA Aficionada
TryingtoComply Offline
Diamond Poster
Joined: Apr 2013
Posts: 1,813
The West
I'm always fascinated about why we find it so hard to just say "no" to these situations. If you have to spend a bunch of time figuring out if you should open this account, the answer should be no. I'm sure you have better things to do with your time.

Send them off to a larger bank that has more experience dealing with NRA customers. Next........
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#2133373 - 06/07/17 05:34 PM Re: Substantive Discrepancy? TryingtoComply
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Quote:
I'm always fascinated about why we find it so hard to just say "no" to these situations.


Said differently: The fact that someone handed you a Rubix Cube does not mean you have to solve it.
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#2133384 - 06/07/17 06:28 PM Re: Substantive Discrepancy? BSA Aficionada
thomasj Offline
Power Poster
Joined: Mar 2001
Posts: 5,062
Pennsylvania
In a perfect world, NO would seem like the obvious solution that would quickly end these types of situations. In the real world of quotas, goals, incentives, and the drive to create a positive "Customer Experience" NO is a dirty word.

It always amazed me how management could talk about the need to be profitable one moment and then give the compliance team grief over not wanting to bank certain high risk customers without assessing fees to cover the added risk and monitoring the next.

Instead of just saying no, you need to build a case and point out the specific risks and how they outweigh the potential reward. Hopefully your voice is heard, but even then you are generally viewed as a road block to providing excellent customer service.

To change Ken's analogy and make it applicable to what I've seen - Instead of a Rubik's Cube someone hands you a hand grenade, so you do have to stop what you are doing and go look for the pin!
Last edited by thomasj; 06/07/17 09:58 PM.
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