Ask HN: KYC regs and SVB

2 pointsdanieltillett3 comments

I am curious if anyone know how the silicon valley bank gets around the know your customer regulations that require a business bank account be opened in person at a physical branch? Are they just ignoring the regs or are all the other banks interpreting the regulations too conservatively?

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Do the regs actually require an in-person visit? I thought it was just that they had to make "reasonable efforts" to identify you. I know I've opened a business account (not at SVB) over the phone, although they did ask a lot of questions.

The regs are quite different if you are a foreigner. Were you in the USA when you opened the account.

Yes, in USA, same state, US citizen.

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