What is required on the new account form when opening new customer accounts?

When opening new customer accounts, it's essential to include a street address on the new account form. A street address provides a physical location associated with the account holder, which is critical for identification and compliance with regulatory requirements. This requirement serves several purposes, such as ensuring accurate correspondence, facilitating verification checks, and meeting anti-money laundering regulations.

Having a street address helps financial institutions confirm the identity of the customer and can be used to assess risk factors. It is a standard practice in the financial sector to require a physical address, as relying solely on a name or a P.O. box does not provide adequate verification for security or fraud prevention purposes.

While the other options may seem to offer alternative means of account identification, they do not fulfill the necessary regulatory obligations, making the inclusion of a street address a key component in the account opening process.