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What Is A Customer Acceptance Policy? |
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Answer» Customer Acceptance Policy refers to the GENERAL guidelines followed by banks in allowing customers to open accounts with them. Generally the guidelines stipulate that no accounts SHALL be opened in ANONYMOUS or fictitious names or when the IDENTITY of the customer matches with any person with known criminal background or banned entities. Similarly accounts should not be opened when the bank is unable to verify the identity and/or obtain documents required as per the bank’s policy. Customer Acceptance Policy refers to the general guidelines followed by banks in allowing customers to open accounts with them. Generally the guidelines stipulate that no accounts shall be opened in anonymous or fictitious names or when the identity of the customer matches with any person with known criminal background or banned entities. Similarly accounts should not be opened when the bank is unable to verify the identity and/or obtain documents required as per the bank’s policy. |
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