Charles Schwab won't let us open an account
We have been full-time RVers now for 2 years and utilize Escapees address and mail forwarding services in Livingston, Texas. This address has sufficed for Vanguard, Fidelity, Chase Bank, and our fede...
Forum Discussion
TechWriter wrote:
Snip
It's the CIP (Customer Identification Program) rule (31 C.F.R. 103.121), which is the regulation implementing Section 326 of the USA PATRIOT Act that requires a financial institution to get the following customer information (bottom of page 480 from PDF above):
(1) Name;
(2) Date of birth, for an individual;
(3) Address, which shall be:
(i) For an individual, a residential or business street address;
(ii) For an individual who does not have a residential or business street address, an Army Post Office (APO) or Fleet Post Office (FPO) box number, or the residential or business street address of next of kin or of another contact individual;
While knowing all this might not get you anywhere with your brokerage, it might be worth a try if you don't mind using a relative's address.
Great info. I would think the "another contact individual" could the mail forwarding service. But the bureaucrats at Schwab may be like bureaucrats everywhere - often unable (or unwilling) to think.
