Bank of america freezing accounts citizenship

Bank of America freezing accounts of suspected undocumented immigrants: report

bank of america freezing accounts citizenship

Bank of America is facing backlash over reports that the company has frozen customer accounts over questions about their citizenship status.

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This week in dystopian nightmares: Bank of America is locking customers out of their accounts after demanding proof of U. Saeed Moshfegh, an Iranian Ph. D candidate at the University of Miami, had been studying legally in the U. According to a report by the Miami Herald , the company required Moshfegh to provide proof of legal residency every six months to continue to use his Bank of America account, which he begrudgingly did. After multiple conversations with Bank of America employees, Moshfegh was allowed to withdraw his money, but the account was shuttered. Multiple U.

You are now logged in. Forgot your password? So is Bank of America trying to stop undocumented immigrants from accessing their money? The short answer is probably not. All three of those stories are based on a Miami Herald report claiming the bank is "freezing accounts of customers suspected of not being U. D student studying in America. Until recently, Moshfegh says he had to show proof to the bank that he was in living in the States legally.

People from foreign countries who have lived in the United States for years say that they used to keep their money in Bank of America accounts without any problem. As long as they continued to show the bank proof of their legal residency, their stories go, the money was safe.
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In order to get a bank account in the U. The Miami Herald in an article Thursday recounted how a PhD student from Iran who was studying at the University of Miami had his Bank of America account frozen after documentation he had provided as proof of legal residency was not accepted. Bank spokeswoman said the institution requires individuals to state their country of citizenship as part of so-called Know Your Customer rules to prevent against crimes such as money laundering. A JPMorgan Chase Bank spokeswoman said the bank asked customers about their citizenship, along with other questions such as residence and occupation, as part of regular due diligence. However, individuals do not need to be a citizen to open a bank account in the United States, according to a spokesperson with the Office of the Comptroller of the Currency, which regulates all national banks. The federal Bank Secrecy Act, though, requires banks to establish the identity of all their customers in order to comply with laws designed to detect money laundering, terrorist financing and other financial crimes.

Every day the experience of being a non-citizen or person of color in the United States seems to be getting more Kafka-esque. For example, today an article in the Miami Herald described an influx of legal non-citizens in the country discovering their bank accounts frozen for no apparent reason. A man named Saeed Moshfegh had been studying in Florida for seven years and used a Bank of America account for his finances. Twice a year, he was asked to produce certain documents to prove his legal status. Then, Bank of America asked for different documentation that he could not provide. When he was unable to, the bank froze his account.

U.S. banks are now questioning customers’ citizenship

Bank of America Freezes Accounts for Non-Citizenship

Bank of America reportedly froze some accounts after asking customers about their citizenship

Bank of America is facing backlash over reports that the company has frozen customer accounts over questions about their citizenship status. The bank says it asks account holders about their country of citizenship in order to comply with country-specific sanctions and routinely conducts outreach to ensure information is up to date. Dan Hernandez, a television writer of Cuban heritage, said the bank suspended his business account in December over suspicion he was doing business with Cuba. A bank can crush your life for arbitrary reasons and never tell you why. He ignored it, assuming it was spam, but later discovered his account was frozen. A number of other major banks, including Wells Fargo and Citibank, ask customers questions about citizenship.

Snopes needs your help! Learn more. The photojournalist for KCTV5 News told us he received a letter from the bank in the mail asking for personal information that included his Social Security number and citizenship status. He ignored it because he thought it might be a scam. Collins told us his family first discovered their bank account was frozen during a week off they spent at home in Kansas City.

Dual Citizenship question angers local Bank of America customers


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