NewStats: 3,259,449 , 8,170,136 topics. Date: Sunday, 25 May 2025 at 03:52 AM 624v4s

There's is something suspicious I noticed. A friend went for a bank upgrade which I accompanied him.
While he made available the documents needed, I noticed he was ask questions and one of the questions which got my attention was concerning his address.
They were interested in his address and the lady even asked "if one needs to find you, is this the address that will work?"

At the marketing room he told me he was asked the description of the building he resides in like the color, bungalow or story, gate colour

So to those who are enlightened on this, my question is why is such information needed especially the details of his residence?.
Is there a reason for this?

It is part of Know Your Customer (KYC). This verification is done on every new to establish the intention and location of the owner of the in case there need for visitation. Again the banker is gonna write visitation report of the customer. The color of the building, the gate and all those details are for visitation report because the banker is so lazy to go and see things by himself.

DamianX:
There's is something suspicious I noticed. A friend went for a bank upgrade which I accompanied him.
While he made available the documents needed, I noticed he was ask questions and one of the questions which got my attention was concerning his address.
They were interested in his address and the lady even asked "if one needs to find you, is this the address that will work?"

At the marketing room he told me he was asked the description of the building he resides in like the color, bungalow or story, gate colour

So to those who are enlightened on this, my question is why is such information needed especially the details of his residence?.
Is there a reason for this?

yes some banks do that check even before officially opening the for you.

They've asked me that before and checked out my residence

ramaju:
It is part of Know Your Customer (KYC). This verification is done on every new to establish the intention and location of the owner of the in case there need for visitation. Again the banker is gonna write visitation report of the customer. The color of the building, the gate and all those details are for visitation report because the banker is so lazy to go and see things by himself.

Wow I I kept hearing this KYC from them but didn't just understand.
Thank your this explanation. Clearer now

DamianX:


Wow I I kept hearing this KYC from them but didn't just understand.
Thank your this explanation. Clearer now

You are welcome.

There are relevant questions as far as KYC is concern

Thanks for this enlightenment from you all. I appreciate

See, those things na pure rubbish. You can be living in a zinc house but you fit still tell dem say na one new duplex wey get cockroach brown colour you dey stay. Who dey go ?

[s]

ramaju:
It is part of Know Your Customer (KYC). This verification is done on every new to establish the intention and location of the owner of the in case there need for visitation. Again the banker is gonna write visitation report of the customer. The color of the building, the gate and all those details are for visitation report because the banker is so lazy to go and see things by himself.

AntiWailer:
That is Know Your Customer (KYC)

Normal Bank Procedure to customers on some Tiers of .

[/s]

Except he is applying for a loan, a bank has no business knowing the colour of your gate or doing house verification.

Your hard-earned money is with them so if anything, it is the customer that should be asking for their MD's exact house address incase they run away with his money.

Nonsense.

That is Know Your Customer (KYC)

Normal Bank Procedure to customers on some Tiers of .

Following...

The officer isn't supposed to ask, he's expected to go for visitation and fill the form from observation. Anyways,, him asking is because he did not want to go out.

U think say them wan rob your friend abi them wan invite efcc come carry your friend. Make u cooler na just normal questions wey them dey ask person.

uu

Nothing wrong in the questions asked, that's the standard KYC procedure ( as a vendor will have to confirm the address before the KYC form can be ticked then the Branch Manager or Relationship manager can then approve the opening of or Upgrade.

KYC keeee

Na so dem find me come my house that year,,the whole street think say I don enter wahala

No mind Nigerian banks

Have you heard of Know Your Customer (KYC) before?

In fact, they are supposed to follow your friend home and because that's what they will write in the documents. The documents will indicate that they went there and also talked to a neighbour at least.
So it is not out of place for them to ask for all that.

So they can report to EFCC

DoggoneDogg:


Except he is applying for a loan, a bank has no business knowing the colour of your gate or doing house verification.

If anything, it is the customer that should be asking for their MD's exact house address incase they run away with his money.

Stop posting ignorance on a public forum.

Yes they do.. KYC doesnt border around loan alone.
The idea is to Know Your Customer, so that in event of fraud the customer can be traced.
Its actually a CBN violation if that house is not verified by actually visiting the residence to confirm
Yes you heard that right!
Its mandated that the officer should physically the address of the customer or he/she can use address verification agents.
Its just that most times all the protocols are flinged.

we call am KYC.. There's nothing bad if I visit Ur house to .Some customers use fake utility bill to open ACC..Just in case u commit fraud,dem go visit Ur house sharp sharp no time

DoggoneDogg:


Except he is applying for a loan, a bank has no business knowing the colour of your gate or doing house verification.

I guess u operate a wallet with max transaction of 50K.

For Tier 2 and above kind of , it is regulatory that they know where you stay.

This is simply known as address verification and it's a regulatory requirement for opening a full tiered . Infact Banks pay vendors to your residential address claims.

In those when some of una Papa and Mama were still kids before we open with first bank dem go send dem staffs to come check our house and compound before we open for thier bank, then was just on paper not this computer era

DoggoneDogg:


Except he is applying for a loan, a bank has no business knowing the colour of your gate or doing house verification.

Your hard-earned money is with them so if anything, it is the customer that should be asking for their MD's exact house address incase they run away with his money.

Stop posting ignorance on a public forum.

How old are u, are you sure you have a standard or you are still using a student

I don't know

My brother even coinbase no ask me nonsense questions

DoggoneDogg:





Except he is applying for a loan, a bank has no business knowing the colour of your gate or doing house verification.

Your hard-earned money is with them so if anything, it is the customer that should be asking for their MD's exact house address incase they run away with his money.

Stop posting ignorance on a public forum.

You wrote nonsense with so much confidence.

Are u still operating your student ?

Are u operating a basic wallet ?

KYC is a regulatory procedure to be done on serious s.

Delete the rubbish u posted

DoggoneDogg:





Except he is applying for a loan, a bank has no business knowing the colour of your gate or doing house verification.

Your hard-earned money is with them so if anything, it is the customer that should be asking for their MD's exact house address incase they run away with his money.

Stop posting ignorance on a public forum.

Guy, compliance, I C and A or EFCC never ask anybody around you for visitation report before?

they shouldn't even ask, but go to see themselves.

[s]

Atheistan:


Yes they do.

AntiWailer:


I guess u operate a wallet with max transaction of 50K.

For Tier 2 and above kind of , it is a regulatory that they know where you stay

bishopjoe02:


How old are u, are you sure you have a standard or you are still using a student

AntiWailer:


You wrote nonsense with so much confidence.

[/s]

House visitation was conducted for your bank s?