Institution Options Screen > General User Options Tab > Monetary Instrument Reporting Customer Qualifying Products

Entry: User, alpha

F/M: Yes

Mnemonic:

In this field, enter a string of letters that represent products owned by a person that qualify the person to be considered a customer of the bank. The products must be in an "OPEN" status. FinCEN specifically states deposit accounts only, but a bank may consider that a person who owns one of the other listed product types has been verified just as thoroughly and so should qualify as a known bank customer. Letters that may be included are:

•D – Deposit accounts

•L – Loan accounts

•S – Safe deposit boxes

•C – Bank cards