CIP Policy Update

Customer Identification Program Policy Update 09/12/06 Detail

Topic 7 - Minimum Identity Verification Standards. A paragraph was added to Item 4 (B) under the "Required Information" subtopic stating the requirements of filing a W-8 form for a non-U.S. person. In addition, the following subtopics were added to provide greater detail:

Rules for Politically Exposed Persons

Rules for Embassy and Foreign Consulate Accounts

Rules for Professional Service Provider Accounts

Rules for Non-Governmental Organization and Charity Accounts

Rules for Cash Intensive Businesses

Topic 14 - Audit Policy. This topic was completely revised to mirror regulatory guidance.

Topic 15 - Staff Training. The "General" topic was revised to incorporate additional minimum requirements.

A "Board of Directors" subtopic was added to provide specific training requirements for a financial institution's board of directors.

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$175.00 - List Price

- or -

$25.00* - Update Price

*Applies only to clients who have purchased our Customer Identification Program Policy Template in addition to the following prior update (if applicable):

Customer Identification Program Policy Template Update - 09/14/05 - $50.00

If you have ordered this product after 08/12/06 you are eligible to receive the updated product at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

Find Out What's New with our Product Update Program

Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product.

How does it work? Clients who previously purchased the product are offered an "update" via e-mail at a substantial discount off the current list price, whereas clients who have not are provided an opportunity to get it hot off the press! Additionally, clients who have ordered the product from us within the past 30 days are eligible to receive the update for free!

Do our various discounts apply? Yes! All of our discount programs (Standard Volume and Legacy Rewards Program - refer to our Special Offers page) can be applied to your Product Update Program order.

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