Identification of New Customers
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
When you open an Exchange Bank account, we will ask for your name, address, date of birth, your driver’s license number or other identifying documents.
The definition of an account covers a broad range of financial transactions, such as a deposit account, loan, or similar type of service.
You can rest assured that you will only be asked for information required by the law — and that the information will be used only for purposes of complying with the law. In all cases, protection of our customer’s identity and confidentiality is the Bank’s pledge to you.