Quote:
3) Do CIP rules apply to check cashing or wire transfer? An "account" does not include and therefore CIP does not apply to: cashing checks, wire transfers, selling checks of money orders, accounts acquired through bank M&A, accounts for certain employee benefit plans (EIRA Act) because provision of such services is not to "customers". That is those who a U.S. bank provides such services to *ARE NOT* customers and are not subject to CIP.
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I have only glanced, but something is completely off about this. You are talking about internal policy of U.S. Bank?
There seems to be a distinction about
customers. Are people who bank there
patrons?
Owners? How come the
customers at U.S. Bank seem to be the only people who are not making transactions in the accounts?