Helper311
United States of America#2Consumer Comment
Thu, November 19, 2009
All financial institutions are required by banking regulations to verify the identity of every cardholder. It is BSA/AML Compliance that requires this. The same Compliance regs require reporting of money laundering, deposit reporting for anything over $10,000 and comsumer protections and liabilities for errors among many other things.
brassy
austin,#3Consumer Comment
Sun, October 04, 2009
IT IS OBVIOUS THAT YOU DID NOT READ THE TERMS AND CONDITIONS WHEN YOU PURCHASED THE CARD. NETSPEND IS A FINANCIAL INST WHICH THEY ARE GOVERNED UNDER THE SAME LAWS AS A BANK.
A VERIFICATION OF IDENITY WILL BE RAN BY THIS COMPANY USING SSN DOB ADDRESS AND IF YOU CANNOT BE VERIFIED BY THE GOVERNMENT DATABASE USE THEN YES DOCS WILL BE REQUESTED TO BE FAXED IN. THIS COMPANY IS AUDITED BY THE GOVERNMENT TO SEE IF THEY ARE STAYING COMPLAINT WITH THE FEDERAL GOV RULES AND REGULATIONS.
REFUSING TO FAX YOU INFORMATION IN YES YOUR ACCOUNT WILL BE CLOSED,AND IF YOU COULD GET A REGULAR BANK ACCOUNT OR EVEN HAVE ONE YOU KNOW THE BANK WILL ASK FOR SSN AND DL TO OPEN A ACCOUNT AND IF THEY ARE NOT REQUESTING THIS INORMATION THEY ARE BREAKING FEDERAL BANKING LAWS.IF YOU HAS READ THE TERMS AND CONDITIONS YOU WOULD NOT BE BLAMNING THE COMPANY.