USA PATRIOT ACT
CUSTOMER IDENTIFICATION PROGRAM (CIP)

Terms of Use | Privacy and Security

Federal regulations enacted pursuant to Section 326 of the USA PATRIOT Act require all financial institutions to verify the identity of every person who seeks to open an account or become a signatory on an account with the institution. All persons are subject to the identity verification requirements even though they may be a long term customer and well known to the institution. However, please be assured that our long term relationship and service quality during the course of our day-to-day interaction with you will NOT be compromised. We truly appreciate your business and value you as a customer.

For the purpose of the regulation, an "account" includes every formal banking relationship that entails ongoing services, dealings or transactions. Some examples are a deposit account, loan, or safe deposit box rental.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Reliance on Others

A bank may rely on a third party to fulfill some or all of the CIP requirements, provided:

• Such reliance is reasonable under the circumstances;
• The other party is a financial institution regulated by a federal regulator and subject to the same CIP requirements;
• The other party contracts to certify annually that it has implemented its anti-money laundering program and it will perform the CIP duties.

In these circumstances, the relying bank will not be held responsible for the failure of the other financial institution to fulfill its CIP duties. A bank may use a third party to perform its CIP duties without complying with the three conditions listed above, but the bank will remain liable for any failure of the third party to satisfy the CIP requirements applicable to the bank.

TIB Bank may retain a copy of any document it relied upon to verify your identity.

We apologize for any inconvenience this may cause as it is our hope to ensure this processing requirement remains as transparent to you as possible. If you have any questions or concerns regarding this regulation, feel free to contact the Branch Manager, Business Banking Officer or Customer Service Representative.