My bank recently suspended my savings account because I (politely) refused to fill out a "personal information form." Without knowing this information they were supposedly unable to safeguard my account.
At this point I had been a customer for 8 years without incident. It's a simple USD transaction account, no credit or anything.
Things they asked:
- Employment status
- Employment details (business name, contact details of employer)
- Whether I have held a high profile position such as a diplomat or whether I am associated with such a person
- Expected value of funds to be deposited in the next 12 months
- Whether I intend to make large cash deposits; if so, for what purpose
- Whether I intend to make large cash withdrawals; if so, for what purpose
- Whether I intend to make or receive international payments; if so, which countries, for what reason, expected frequency, expected value
I think the last few questions can basically be summarized as "are you funding terrorism and/or laundering money"
This form isn't to safeguard my finances - it's all for the bank...
Has your bank asked about your activities, either informally (eg a "friendly chat" with a teller), or officially?