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Fictitiously Named Account

In addition to the Named Account and the Numbered Account, it is possible to tighten the secrecy attributes of the relationship one notch further. In a Fictitiously Named Account, the true name of the customer is not revealed. Although the bank manager knows the real name of the customer, the account opening agreement contains a fictitious name so that there is no written evidence of the account owner. If Steve Smith wanted to open such an account, the actual name on the agreement could be John Doe-Account Number 1234. In all communications, the customer would identify himself as John Doe-Account Number 1234. Again written and telephone directions would contain the previously agreed code. As with a Numbered Account, the Fictitiously Named Account requires a high degree of sensitive handling by the bank and is not generally available to the public except by special arrangement.

 
 
 

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