South Dakota Banking - An 800Lb Gorilla

[Mark Noakes]

Been on the road now for nearly 4 years. Have not figured out how to get a bank account in South Dakota given the Patriot act and what seems to be every bank and credit unions bias toward full-time RVers. Has anyone figured this out in South Dakota and in particular, if you have the standard Escapees PMB address? Is there a bank or a credit union in South Dakota that is willing to allow anyone in the full-time RV community to open a bank account - personal or business? As an example, I would love to start a business but cannot find a bank or credit union in South Dakota willing to work with full-time RVers that have a PMB. I'm sure I'm not alone. There must be a whole lot of people looking for this same ability. Would love to hear what you have found out, especially if you were successful.

[Kirk W]

§ 1020.220 Customer identification program requirements for banks.

 

(i) Customer information required —

(A) In general. The CIP must contain procedures for opening an account that specify the identifying information that will be obtained from each customer. Except as permitted by paragraphs (a)(2)(i)(B) and (C) of this section, the bank must obtain, at a minimum, the following information from the customer prior to opening an account:

(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; or

(iii) For a person other than an individual (such as a corporation, partnership, or trust), a principal place of business, local office, or other physical location; and

(4) Identification number, which shall be:

(i) For a U.S. person, a taxpayer identification number; or

(ii) For a non-U.S. person, one or more of the following: A taxpayer identification number; passport number and country of issuance; alien identification card number; or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.

Note to paragraph (a)(2)(i)(A)(4)(ii):

When opening an account for a foreign business or enterprise that does not have an identification number, the bank must request alternative government-issued documentation certifying the existence of the business or enterprise.

(B) Exception for persons applying for a taxpayer identification number. Instead of obtaining a taxpayer identification number from a customer prior to opening the account, the CIP may include procedures for opening an account for a customer that has applied for, but has not received, a taxpayer identification number. In this case, the CIP must include procedures to confirm that the application was filed before the customer opens the account and to obtain the taxpayer identification number within a reasonable period of time after the account is opened.

 

 

 

[Kirk W]

Regulators Say Wells Fargo Isn’t Doing Enough to Police Customer Crimes

[Chalkie]

1 hour ago, Kirk W said:

Regulators Say Wells Fargo Isn’t Doing Enough to Police Customer Crimes

This is not just you, Kirk, but I wish when people post links to articles that said articles were not behind the paywall. Not everyone has subscriptions to all these different sources.

[DanZemke]

Here's a Reuters link without a paywall.  It's from Nov 2023 and may be unrelated to Kirk's WSJ link.  

US regulators push Wells Fargo to improve financial crime monitoring - WSJ

[Kirk W]

2 hours ago, Chalkie said:

This is not just you, Kirk, but I wish when people post links to articles that said articles were not behind the paywall.

I'm not sure how one is supposed to know that it is, but if you were to search on the headline, as Dan probably did, you can almost always find another source for that story.

Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring

[Lou Schneider]

15 hours ago, Kirk W said:

I'm not sure how one is supposed to know that it is, but if you were to search on the headline, as Dan probably did, you can almost always find another source for that story.

Report: Regulators Issue Formal Orders to Wells Fargo to Enhance Monitoring

Try opening the story with a browser that isn't subscribed to the service.

[Kirk W]

3 hours ago, Lou Schneider said:

Try opening the story with a browser that isn't subscribed to the service.

Which is exactly what I did, but most of those sites will allow nonsubscribers to see for a limited time. When I go back and look for it I did see a place to subscribe that had a counter to tell me how many times I could read it before I had to subscribe. Most of us do not examine the entire page when looking at a news story. Since that happens from time to time, I just do a search on the subject, as it seems Dan does as well. 

[DanZemke]

Kirk,

You're right.  I did use the words in the link you posted to search for related information.

------------

Long ago, I tired of clicking on search results that repeatedly turned into advertisements to subscribe, like the WSJ's.  So I began using a low-level fix - editing a file on my computer named "hosts".   I use Windows, but all OSes that access the internet have this capability.

Here's my entry in that file for the WSJ:

    "127.0.0.1  wsj.com    # Unsubscribed - 4x cost of NYT and 8x WaPo"
   

The 127.0.0.1 is the address of a simulated DNS server, that does nothing but return a message indicating that the URL doesn't exist.    "wsj.com" is the URL you want to block.    And every thing to the right of the "#" is a comment.
-------------------------------    
    
Because of this, when I click on a link to the WSJ, I get:

"Unable to connect

An error occurred during a connection to www.wsj.com.

    The site could be temporarily unavailable or too busy. Try again in a few moments.
    If you are unable to load any pages, check your computer’s network connection.
    If your computer or network is protected by a firewall or proxy, make sure that Firefox is permitted to access the web."
    
-------------------------------   
    
I edit my "hosts" file by hand, but it's a bit cumbersome to do it this way.  If you're not a techie and want to do something like this, you should probably use a utility.  Here's a few from a well-respected tech site.  But I haven't tried any of the utilities they suggest.

[Kirk W]

Dan, in nearly all cases, using cut/paste to drop the heatline in question into the Google search will bring multiple sources and frequently many will have the exact same article with the same author. I guess that I just never considered it to be that difficult but I suppose for some it could be. 

[DanZemke]

Kirk,  I clearly failed to convey what I meant to. 

My example was trying to show how to easily prevent ANY access to the WSJ.  Before my fix,  If I started  reading a WSJ article, I'd get a pop-up message saying: if you want to read the rest of the article, you must subscribe. I prefer going to another source quickly, rather than reading part of a teaser first.

WSJ is just an example.  I have many sites I never want to visit in my "hosts" file.  Almost all of them are there because the site is behind a paywall.

 

[Kirk W]

8 hours ago, DanZemke said:

I clearly failed to convey what I meant to. 

No problem whatsoever. I actually understand the reason for paywalls as the magazines are not nonprofit and can not operate for free. Magazines and newspapers have been struggling due to the decrease in subscribers and the availability of information on the internet is the primary reason. I actually pay for several emagazines, but fewer than I once subscribed to and I've not subscribed to a newspaper in about 10 years. 

[Mark Noakes]

Hi folks! Just a reminder to keep your posts related to the title. This got a little off track.  Thank you!

Edited February 1 by Mark Noakes

[DanZemke]

17 hours ago, Kirk W said:

I actually understand the reason for paywalls as the magazines are not nonprofit and can not operate for free.

Me too.  But I don't like reading part of an article and then being surprised  that the rest is unavailable. So I block sites, that use links to articles, as one of their subscription marketing tactics.  My time is not free.

Edited February 1 by DanZemke
clarity

[DanZemke]

6 hours ago, Mark Noakes said:

Hi folks! Just a reminder to keep your posts related to the title. This got a little off track.  Thank you!

Mark,

Yeah, it drifted. I notice that you posted your question twice on Jan 8th.  The other thread is at:

South Dakota, PMBs and Bank Accounts, Oh My!

Both threads seem to have run their course.

Edited February 1 by DanZemke
clarity