Customer Identification Program
Federal regulation enacted pursuant to Section 326 of the USA PATRIOT Act require all financial institution to verify the identity of every person who seeks to open an account or become a signatory on an account with the institution after October 25,2002. All person are subject to identity verification requirements even though they may be a long term customer of and well known to the institution.
For the purpose of the regulation, an “account” includes every formal banking relationship that entails ongoing services, dealings or transactions. Some examples are deposit account, loan, trust relationship or safe deposit box rental.
If you request to open an account or become a signatory on an account with Johnson City Bank and Johnson City Bank has not previously verified your identity under the new regulatory requirements, Johnson City Bank will request documentary verification of your identity, such as a driver’s license or passport and it will verify your identity through other nondocumentary methods. Similar identification requirements apply to business entitles such as corporations and partnerships.