Skip to content

Placement of the CIP Notice

Answered by: 

Is a CIP notice required to be in place at each workstation where deposits might be accepted, for example, at an officer's desk or other location other than the teller line?

The CIP notice is NOT required at the teller line. It is an "account opening" notice. Customers must be notified about the fact that the financial institution will request information to verify their identities. The notification must be provided prior to the opening of the account. The notice can be provided orally, by posting a notice in the lobby where customers will be likely to see it, on a website, signs on desks, etc.

31 CFR 103.121(b)(5)(ii) states:
Adequate notice. Notice is adequate if the bank generally describes the identification requirements of this section and provides the notice in a manner reasonably designed to ensure that a customer is able to view the notice, or is otherwise given notice, before opening an account. For example, depending upon the manner in which the account is opened, a bank may post a notice in the lobby or on its website, include the notice on its account applications, or use any other form of written or oral notice.

First published on 7/24/06

First published on 07/24/2006

Filed under: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics