CIP
What is CIP?
Customer Identification Program
In what instance do you need to collect address verification?
If the customers physical address does not match what is on their ID
What is the difference between occupation and employer?
Occupation - What you do
Employer - Where you work
Where do you find the BSA risk code breakdown?
Intranet
Who do you list as the Primary Officer when building your customer and account?
How many forms of ID are required?
2
When is the best time to obtain address verification from the customer?
At account opening but they have thirty days to get this to us.
If the occupations are retired, disabled or unemployed, what else must you include?
Where the last place they worked and what they did there.
If they have never worked, "Disabled - Never Worked" is acceptable.
What risk code does the average consumer get?
2 - Low-Medium
Where do you find the customer key?
Under Basic information tab
What should you always get a copy of?
Primary ID, scanned with Capture ID
Give 3 documents that can be used for Address Verification.
Payroll Check, Lease Agreement, Mail/Bills, Recent online purchase confirmation
True or False: Primary Source of Funds and Source of Income are not required
False: Primary source of income, source of funds, usage checkboxes, and employer are required.
Where do you go to find the CRA code?
GEO website in XE links tab.
What are the requirements for a New Opportunity Account?
Only 1 paid or unpaid closure and must be less than $400.00
True or False: If a SSC is scanned, you can list it as the primary ID?
False, unless it is for a minor
Should you verify a new customer on an existing account?
Yes, before they are added
What must be printed and given to the customer if they are on ChexSystems and we cannot open their account?
Adverse Action Notice
What CRA code do you use when your customer is not in our assessment area list?
25
Can a New Opportunity customer Opt-In for Debit Card overdrafts?
No
You will always select Opt-Out for New Opp
Must complete Nongovernmental Organizations and Charities form on Intranet
What additional step is involved when opening an account for a business that is a Private ATM Owner?
Must complete the Privately Owned ATM Application on intranet
Is the account opening process different for Money Service Businesses?
Yes, the account is not opened immediately. There is an application process. Contact BSAO
Does the bank open accounts for Marijuana Related Businesses?
No
What type of non-documentary verification is required for all new business customers?
BizChex