OPENING A NEW ACCOUNT Sample Clauses
The 'Opening a New Account' clause outlines the requirements and procedures a customer must follow to establish a new account with a service provider or financial institution. Typically, this clause specifies the information and documentation needed, such as identification, proof of address, and possibly initial deposits. It may also describe eligibility criteria and the steps for account approval. The core function of this clause is to ensure that both parties understand the process and requirements for account creation, thereby reducing misunderstandings and supporting compliance with legal or regulatory standards.
OPENING A NEW ACCOUNT. 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. For a non-individual person such as a business entity, a charity, a trust or other legal entity the Custodian will ask for documentation to verify its formation and existence as a legal entity. The Custodian may also ask to see financial statements, licenses, identification and authorization documents from individuals claiming authority to represent the entity or other relevant documentation.”
OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money laundering activity, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means to you: When you open an Account, we will ask for your address, date of birth, social security number and/or other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. By opening this Account, you represent and warrant to us that: (1) you are at least 18 years of age (or 19 if you reside in a state where the age of majority is 19 years old) and (2) you are a U.S. citizen or legal alien residing in one of the fifty (50) states, the District of Columbia or Puerto Rico.
OPENING A NEW ACCOUNT. In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering (“Applicable Law”), the Custodian is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Custodian. Accordingly, the Company agrees to provide to the Custodian upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Custodian to comply with Applicable Law.