Office of the Comptroller of the Currency

Check Fraud: A Guide to Avoiding Losses

Guidelines to Consider When Opening Accounts

Although this list is not exhaustive, it provides some procedures a representative should consider applying when opening new accounts:

Request two forms of personal identification. Acceptable identification includes:

Request documents on corporate accounts. Such documentation may include copies of:

Require complete information. The new account card should show street address, date of birth, driver's license number, and social security number or tax identification number.

Verify information provided.

Check the new customer's banking history. Contact the banks with which the customer reports having had prior relationships, if any, and ask for the customer's:

Use the address provided. A nice way to do this is to write a thank you letter to the new customer using the street address provided. If the letter is returned, the bank knows to investigate the account.

Visually inspect business premises. Drive by the business address to see if it fits with the type of business reported.

New accounts representatives should refer all inconsistencies identified and any difficulties in the new account opening process to a supervisor.

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