
Ask HN: KYC regs and SVB - danieltillett
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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eschutte2
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.

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

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eschutte2
Yes, in USA, same state, US citizen.

