Is a physical address required to appear on the signature card if the customer has a seperate mailing address? The physical address is on file and on our system for all customers, but the software is pulling in mailing address on the new account signature cards.

I have worked at a bank where they put both on the card, as well.

Which reg is it that states the answer?

Thank you.

No, nothing in the regs.

Many signature cards do not have space for address.

Since our signature cards are also our account agreements, ours includes physical address. We would file an address change form to change the mailing address.

As long as you have the physical address or street address on record then you are fine.

You'd need to get a new signature card every time a customer changes their address. It's not necessary to have both on a card.

No you would not. Just simply have a process for monitoring and documenting change of address requests/addemdums.

I meant that IF the current address is to be placed on all signature cards, then a new card would be required every time an address changed. Because it is NOT required to have the current address on a card, no new card is necessary. Many banks keep records of subsequent address changes on file along with the original card. Sorry for the confusion.

I suppose that depends on how your bank is retaining CIP information. If it is being retained on the signature card, then you must have the physical address on the card. If not, then I don't think it matters.