A teller cashes checks payable to an individual using the individual's <i>corporate</i> account number on the back of check for recourse. If these checks come back to the bank for whatever reason, can we charge them against the corporate account?
We have opened an "non-traditional" banking facility that serves the Latino community. We are requiring that the new customer provide us with either a SSN or ITIN or attest that they have applied for same when opening a non-interest bearing account. I have been met with some resistance. Where can I find the requirement other than our Know Your Customer Policy, Money Laundering Policy and BSA Policy that makes this a federal requirement that banks absolutely must have Tax ID numbers on all accounts?