New Account KYC Verification

Customer identification and due diligence for new account opening. Satisfies CIP requirements under 31 CFR 1020.220. Takes 15-30 minutes. Best for: New account staff, customer service, branch personnel.

3 steps

Banking

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Process steps

Collect and verify identification

1 hours from previous step

task

Obtain government-issued photo identification. Record the ID type, number, issuing authority, and expiration date. Compare the photo to the person in front of you. For business accounts, also obtain business formation documents and beneficial ownership information per 31 CFR 1010.230.

Form fields in this step

ID Type *

ID Verified *

Beneficial Ownership Collected (Business)

Verify SSN/TIN and run OFAC check

1 hours from previous step

task

Obtain and verify Social Security Number for individuals or Tax ID Number for businesses. Run the customer through OFAC sanctions screening. Do not open accounts for anyone on the SDN list. Document any potential matches and how they were resolved.

Form fields in this step

SSN/TIN Verified *

OFAC Screening Result *

Assess customer risk and complete account opening

1 hours from previous step

task

Based on customer information, assign an initial risk rating. Consider occupation, expected account activity, geographic factors, and any red flags. High-risk customers require enhanced due diligence. Complete the account opening documentation.

Form fields in this step

Risk Rating Assigned *

Account Opened Successfully *

New Account Number