Learn More - Click Here!

New Reply Thread Options
#2269526 - 04/22/22 02:53 PM Bank Physical Address requirements?
Anonymous
Unregistered

Hello! Need help please in determining circumstances where we must include/provide a physical mailing address to customers. Is there any case where this is required or is a PO box okay? Thanks!

Return to Top Reply Quote Quick Reply Quick Quote
#2269528 - 04/22/22 03:01 PM Re: Bank Physical Address requirements? Anonymous
ACBbank Offline
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,159
New York City
I am not sure that I understand your question. You need a physical address for CIP, but can also obtain a mailing address such as a PO Box to send documentation too.
_________________________
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top Reply Quote Quick Reply Quick Quote
#2269531 - 04/22/22 03:16 PM Re: Bank Physical Address requirements? Anonymous
Anonymous
Unregistered

Thanks - to clarify, can the bank use only a PO box as it's contact address for customers (in customer facing materials such as website, emails, notice of dispute, etc) in lieu of an actual street address or are there circumstances where a street address is required?

Return to Top Reply Quote Quick Reply Quick Quote
#2269690 - 04/27/22 02:36 PM Re: Bank Physical Address requirements? Anonymous
Anonymous
Unregistered

I am assuming you are talking about the bank address; can you use "just" a PO Box for your branch?

What's the reasoning behind it?

Return to Top Reply Quote Quick Reply Quick Quote
#2269696 - 04/27/22 03:15 PM Re: Bank Physical Address requirements? Anonymous
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,965
Galveston, TX
1005.7(b)(2) Telephone number and address. The telephone number and address of the person or office to be notified when the consumer believes that an unauthorized electronic fund transfer has been or may be made.

There is no requirement for that to be a physical address.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top Reply Quote Quick Reply Quick Quote
#2269709 - 04/27/22 05:54 PM Re: Bank Physical Address requirements? Anonymous
Anonymous
Unregistered

1005.7(b)(2) aside, I'd be curious to know why a bank wouldn't want to use their physical address?

Return to Top Reply Quote Quick Reply Quick Quote
#2269717 - 04/27/22 06:24 PM Re: Bank Physical Address requirements? Anonymous
burke116 Offline
Platinum Poster
Joined: Jun 2014
Posts: 542
RVA
Some rural locations don't get mail, so mail sent to the physical address as disclosed by the Bank would come back to the sender undeliverable.

Return to Top Reply Quote Quick Reply Quick Quote
#2269738 - 04/27/22 08:30 PM Re: Bank Physical Address requirements? Anonymous
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,598
Cape Cod
And if the bank has a P.O, Box address and a high volume of mail, the postal service may not deliver an envelope addressed to the bank's street address.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top Reply Quote Quick Reply Quick Quote
#2269750 - 04/28/22 12:48 PM Re: Bank Physical Address requirements? Anonymous
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,379
Florida
This is "Dumb Question Thursday"
.
Wasn't there a period of time when a physical address was required in the event that someone wanted to go to the bank and talk to someone in person?

Return to Top Reply Quote Quick Reply Quick Quote
#2269751 - 04/28/22 12:59 PM Re: Bank Physical Address requirements? Anonymous
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,965
Galveston, TX
Not that I am aware - that is why a phone number is also required.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top Reply Quote Quick Reply Quick Quote
#2269940 - 05/02/22 07:49 PM Re: Bank Physical Address requirements? Anonymous
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,598
Cape Cod
Where would you visit a virtual bank? It has no branches or other offices open to the public.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top Reply Quote Quick Reply Quick Quote
Quick Reply:
HTML is disabled
UBBCode is enabled




Moderator:  MagicCity, P*Q, Truffle Royale