Who is responsible for opening an account in a bank?
The responsibility of opening an account in a bank lies with the individual who wants to open the bank account. They must provide the required documents, fill out the application form accurately and truthfully, and deposit the required funds.
However, the bank also has a responsibility to ensure that the account is opened in accordance with their policies and procedures, which may include verifying the identity of the individual, conducting background checks, and adhering to anti-money laundering regulations.
Ultimately, both the individual and the bank share responsibility in the process of bank account opening, with the individual providing the necessary information and funds, and the bank conducting the necessary checks and adhering to regulatory requirements.
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