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Business Documentation? Online? How?

Answered by: 

Question: 
How can we open businesses online under current Customer Identification Program?
Answer: 

A CIP allows you to do both documentary and nondocumentary verification of a customer. The business is your customer. You should currently have procedures that discuss opening accounts when you are not face-to-face. Most of these procedures are for consumer accounts. You would have to modify your CIP to manage accounts that are opened with the customer is not in your office.

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Learn more about Deborah Crawford’s webinar Online Opening of Business Accounts

First published on 10/04/2020

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