Do banks require background checks to open accounts?

Answer Banks are not allowed to conduct criminal background checks on clients. They are authorized to conduct credit checks and account history checks prior to opening an account. This ability is granted ... Read More »

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Does anyone such as the FBI CIA do background security checks and checks for citizenship on members of Congress and the President elect?

They MAY do so as a pre-requisite for their accessing certain classified information during their terms of office after they are elected. HOWEVER, there is no Constitutional requirement that these ... Read More »

How long do banks keep copies of checks?

According to the Office of the Comptroller of the Currency, national banks are required to keep canceled checks or legible copies of the checks for seven years. After seven years, banks may destroy... Read More »

What Do Banks Do With Forged Cashier's Checks?

A forged check can create a nightmare as well as significant losses for both customers and their banks. Unfortunately, there is still a bit of confusion as to whom is liable for the losses. Accordi... Read More »

How to Cash Canadian Checks in U.S. Banks?

If you have received a check in the mail from a Canadian bank, cashing it or depositing it into an American bank account may be a minor challenge. Some banks are more accepting of international che... Read More »