BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To make you wait
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They don’t like you
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They need to make sure you are who you say you are
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They want to see if you can be patient
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Detailed explanation-1: -This is usually done due to regulatory requirements, in some cases, or to help reduce risk of fraud or costly errors. Account verification helps businesses verify validity and ownership of bank accounts. This can be done due to regulatory requirements, or to help avoid errors – or fraud.
Detailed explanation-2: -Identity verification is a critical process to ensure that the person who is opening a bank account or applying for loans is the person they claim to be.
Detailed explanation-3: -It usually involves the customer providing credible information that proves their account ownership, such as a bank statement. In some cases, consumers can prove their identity by providing data that matches the data on file at a credit bureau or held with their bank.
Detailed explanation-4: -To verify a bank account of a customer, financial institutions will request information like the account holder’s name, bank account number, and routing number. They’ll check these details against other customer documentation to ensure that there are no inconsistencies.