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Customer Spotlight

Understanding The Banking Process

Posted on: February 22nd, 2016 by Julie

The owner at West San Carlos Gas & Check in San Jose discovered his account was frozen and did not know what to do or how to fix it.

“I have been a check casher for 30 years and have been with the same back for the last 15 years. So when I found out that my MSB account had been shut down, I was surprised and confused.”

He reached out to his bank and they would not give him much direction, so I searched for a company who could.

The owner knew what he needed and looked for a company who knows what banks are looking for and could help him understand why he was without an account.

Our team coached and worked closely with him to help him understand the banking process and drafted a custom Anti Money Laundering Program for his unique situation.

“From day one, the team at Capital Compliance Experts were very helpful, knew the banking system and worked with me every step of the way. They created a custom AML program and did a Third Party Independent Review for me.”

Unfortunately, the owner had to find out the hard way that he cannot do it all on his own. He had anti-money laundering policies in place, but learned that he needed help putting them into a form that would satisfy the bank.

He is now has a MSB account and is signed up for our Compliance Oversight Program. This program will allow him to continuously be audit ready.

“With the help of Capital Compliance Experts, I will always be in compliance with their Compliance Oversight Program and I now have an MSB bank account. I can finally get back to doing what I am good at, running my business.”

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About the Author

Julie Sepulveda
Julie Sepulveda
Marketing Coordinator

I have a love for design, organization and family.

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